Vietnam Mobile Payment Market Worth 70,937 Million USD by 2025, Says Allied Market Research - iCrowdNewswire
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Sep 11, 2018 11:07 AM ET

Vietnam Mobile Payment Market Worth 70,937 Million USD by 2025, Says Allied Market Research

iCrowdNewswire - Sep 11, 2018

Near-Field Communication (NFC) mode of transaction is expected to grow at the highest CAGR during the forecast period, as the country has been investing in digital infrastructure and e-payment services, which includes NFC payment.

The Vietnam mobile payment market was valued at $16,054 million in 2016 and is projected to reach $70,937 million by 2025, growing at a CAGR of 18.2% from 2018 to 2025. Near-Field Communication (NFC) mode of transaction is expected to grow at the highest CAGR during the forecast period, as the country has been investing in digital infrastructure and e-payment services, which includes NFC payment.

Vietnam Mobile Payment Market

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Changes in customer preference from cash to digital payments, the surge in need for immediate transactions in Vietnam, increased penetration of internet and smartphones, and growth of the e-commerce industry majorly contribute towards the growth of the market. However, data breaches & security concerns are expected to hamper the Vietnam mobile payment market growth.

Based on the type, the remote payment segment dominated the Vietnam mobile payment market in 2016 and is expected to continue this trend during the forecast period, owing to extensive use of this payment method across various sectors such as IT, retail, telecommunications, hospitality, healthcare, and others. Furthermore, the proximity payment segment is expected to grow at the highest CAGR during the forecast period, owing to rising adoption of mobile point of sale (mPOS) solutions among small- and medium-sized businesses in Vietnam.

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The Vietnam mobile payment market was led by the retail segment in 2016, and is projected to maintain its dominance during the forecast period. However, the hospitality & tourism segment is expected to witness the highest growth, as large number of consumers in Vietnam have been doing transportation reservations such as hotels, flights, and railway tickets through apps, mobiles, or websites.

vietnam-mobile-payment-market3

Key Findings of the Vietnam Mobile Payment Market :

•By type of purchase, the travel and ticketing segment is expected to exhibit significant growth in the Vietnam mobile payment market during the forecast period.

•In 2016, the personal segment accounted for the highest revenue, in the end, user category.

•Based on the type, the remote payment segment generated the highest revenue in 2016.

•As per mode of transaction, the near-field communication segment is anticipated to exhibit substantial growth during the forecast period.

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Some of the key market players profiled in the report include 

•Mobivi
•NganLuong
•OnePay
•Smartlink
•Orange S.A.
•PayPal Holdings Inc.
•Payoo
•MOMO
•123Pay
•SohaPay

About Us: 

Allied Market Research (AMR) is a full-service market research and business consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of “Market Research Reports” and “Business Intelligence Solutions.” AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.

We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.

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Keywords: Mobile Payment Market, Vietnam Mobile Payment Market, Vietnam Mobile Payment Market Analysis, Vietnam Mobile Payment Market Growth, Vietnam Mobile Payment Market Report, Vietnam Mobile Payment Market Share, Vietnam Mobile Payment Market Size
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