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Vietnam E-Wallet Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026

Market Overview:

The Vietnam E-wallet market witnessed robust growth during 2015-2020. An electronic wallet, commonly known as e-wallet, refers to a digital service that allows a consumer to store money and conduct financial transactions. It acts as a virtual wallet that can be used to make payments for various applications, including goods purchasing, online shopping, booking travel tickets, paying utility bills, etc. E-wallet offers numerous advantages over conventional payment methods, such as easy accessibility, quicker money transfers, secured payment gateways, etc. In Vietnam, the growing internet connectivity along with the rising adoption of smart devices is propelling the market growth.

A significant growth in the e-commerce industry along with increasing shift from conventional cash and card payments towards digital alternatives is augmenting the market for e-wallets. Furthermore, the growing number of tech-savvy consumers in the country is also catalyzing the demand for digital wallets for making mobile-based payments. Additionally, several retail outlets in Vietnam are adopting QR codes and NFC-based devices for eliminating card swiping and manual entry, which in turn helps in mitigating human errors and facilitating a smoother checkout experience. Additionally, the rising availability of several customer-centric offers, such as discounts, cashback, and shopping vouchers, associated with e-wallets is also bolstering the market growth. Apart from this, the growing incidences of card thefts are further driving the demand for safer and secured alternatives, including e-wallets. Furthermore, the introduction of multi-factor authentication solutions, including fingerprint and facial recognition, for providing secured e-wallets is also catalyzing the market growth in the country. In the coming years, the rising integration of mobile wallets with numerous advanced technologies, such as AI, predictive analytics, cloud computing, etc., will continue to drive the market for e-wallets in Vietnam. Looking forward, IMARC Group expects the Vietnam E-wallet market to continue its robust growth during the next five years.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the Vietnam E-wallet market report, along with forecasts for growth at the region level from 2021-2026. Our report has categorized the market based on type, ownership, technology and vertical.

Breakup by Type:

  • Open
  • Semi-Closed
  • Closed
     

Breakup by Ownership:

  • Banks
  • Telecom Companies
  • Device Manufacturers
  • Tech Companies
     

Breakup by Technology:

  • Near Field Communication
  • Optical/QR Code
  • Digital Only
  • Text-Based
     

Breakup by Vertical:

  • Retail
  • Transportation
  • Media and Entertainment
  • Energy & Utilities
  • Telecommunication
  • Others
     

Competitive Landscape:

The competitive landscape of the industry has also been examined with some of the key players being MOCA System Inc., M-Pay Technology and Trading Service Joint Stock Company, Vietnam Payment Solution Joint Stock Company (VNPAY), VinID Pay (Vingroup), VNPT Electronic Payment Joint Stock Company, ZaloPay (ZION Joint Stock Company).

Key Questions Answered in This Report:

  • How has the Vietnam E-wallet market performed so far and how will it perform in the coming years?
  • What has been the impact of COVID-19 on the Vietnam E-wallet market?
  • What is the breakup of the market based on the type?
  • What is the breakup of the market based on the ownership?
  • What is the breakup of the market based on the technology?
  • What is the breakup of the market based on the vertical?
  • What are the various stages in the value chain of the industry?
  • What are the key driving factors and challenges in the industry?
  • What is the structure of the Vietnam E-wallet market and who are the key players?
  • What is the degree of competition in the industry?

1    Preface
2    Scope and Methodology 

    2.1    Objectives of the Study
    2.2    Stakeholders
    2.3    Data Sources
        2.3.1    Primary Sources
        2.3.2    Secondary Sources
    2.4    Market Estimation
        2.4.1    Bottom-Up Approach
        2.4.2    Top-Down Approach
    2.5    Forecasting Methodology
3    Executive Summary
4    Introduction

    4.1    Overview
    4.2    Key Industry Trends
5    Vietnam E-Wallet Market
    5.1    Market Overview
    5.2    Market Performance
    5.3    Impact of COVID-19
    5.4    Market Forecast
6    Market Breakup by Type
    6.1    Open
        6.1.1 Market Trends
        6.1.2 Market Forecast
    6.2    Semi-Closed
        6.2.1 Market Trends
        6.2.2 Market Forecast
    6.3    Closed
        6.3.1 Market Trends
        6.3.2 Market Forecast
7    Market Breakup by Ownership
    7.1    Banks
        7.1.1 Market Trends
        7.1.2 Market Forecast
    7.2    Telecom Companies
        7.2.1 Market Trends
        7.2.2 Market Forecast
    7.3    Device Manufacturers 
        7.3.1 Market Trends
        7.3.2 Market Forecast
    7.4    Tech Companies
        7.4.1 Market Trends
        7.4.2 Market Forecast
8    Market Breakup by Technology
    8.1    Near Field Communication (NFC)
        8.1.1 Market Trends
        8.1.2 Market Forecast
    8.2    Optical/QR Code
        8.2.1 Market Trends
        8.2.2 Market Forecast
    8.3    Digital Only
        8.3.1 Market Trends
        8.3.2 Market Forecast
    8.4    Text-Based
        8.4.1 Market Trends
        8.4.2 Market Forecast
9    Market Breakup by Vertical 
    9.1    Retail
        9.1.1 Market Trends
        9.1.2 Market Forecast
    9.2    Transportation
        9.2.1 Market Trends
        9.2.2 Market Forecast
    9.3    Media and Entertainment
        9.3.1 Market Trends
        9.3.2 Market Forecast
    9.4    Energy & Utilities
        9.4.1 Market Trends
        9.4.2 Market Forecast
    9.5    Telecommunication
        9.5.1 Market Trends
        9.5.2 Market Forecast
    9.6    Others
        9.6.1 Market Trends
        9.6.2 Market Forecast
10    SWOT Analysis
    10.1    Overview
    10.2    Strengths
    10.3    Weaknesses
    10.4    Opportunities
    10.5    Threats
11    Value Chain Analysis
    11.1    Licensing
    11.2    Research & Development
    11.3    Product Management
    11.4    Product Development
    11.5    Marketing
    11.6    End-Use
12    Porters Five Forces Analysis
    12.1    Overview
    12.2    Bargaining Power of Buyers
    12.3    Bargaining Power of Suppliers
    12.4    Degree of Competition
    12.5    Threat of New Entrants
    12.6    Threat of Substitutes
13    Price Analysis
14    Competitive Landscape

    14.1    Market Structure
    14.2    Key Players
    14.3    Profiles of Key Players
        14.3.1    MOCA System Inc.
           14.3.1.1 Company Overview
           14.3.1.2 Business Overview 
        14.3.2    M-Pay Technology and Trading Service Joint Stock Company
           14.3.2.1 Company Overview
           14.3.2.2 Business Overview 
        14.3.3    Vietnam Payment Solution Joint Stock Company (VNPAY)
           14.3.3.1 Company Overview
           14.3.3.2 Business Overview
        14.3.4    VinID Pay (Vingroup)
           14.3.4.1 Company Overview
           14.3.4.2 Business Overview
        14.3.5    VNPT Electronic Payment Joint Stock Company
           14.3.5.1 Company Overview
           14.3.5.2 Business Overview
           14.3.5.3 Financials
        14.3.6    ZaloPay (ZION Joint Stock Company)
           14.3.6.1 Company Overview
           14.3.6.2 Business Overview

List of Figures

Figure 1: Vietnam: E-Wallet Market: Major Drivers and Challenges
Figure 2: Vietnam: E-Wallet Market: Sales Value (in Million US$), 2015-2020
Figure 3: Vietnam: E-Wallet Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 4: Vietnam: E-Wallet Market: Breakup by Type (in %), 2020
Figure 5: Vietnam: E-Wallet Market: Breakup by Ownership (in %), 2020
Figure 6: Vietnam: E-Wallet Market: Breakup by Technology  (in %), 2020
Figure 7: Vietnam: E-Wallet Market: Breakup by Vertical  (in %), 2020
Figure 8: Vietnam: E-Wallet (Open) Market: Sales Value (in Million US$), 2015 & 2020
Figure 9: Vietnam: E-Wallet (Open) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 10: Vietnam: E-Wallet (Semi-Closed) Market: Sales Value (in Million US$), 2015 & 2020
Figure 11: Vietnam: E-Wallet (Semi-Closed) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 12: Vietnam: E-Wallet (Closed) Market: Sales Value (in Million US$), 2015 & 2020
Figure 13: Vietnam: E-Wallet (Closed) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 14: Vietnam: E-Wallet (Banks) Market: Sales Value (in Million US$), 2015 & 2020
Figure 15: Vietnam: E-Wallet (Banks) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 16: Vietnam: E-Wallet (Telecom Companies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 17: Vietnam: E-Wallet (Telecom Companies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 18: Vietnam: E-Wallet (Device Manufacturers) Market: Sales Value (in Million US$), 2015 & 2020
Figure 19: Vietnam: E-Wallet (Device Manufacturers) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 20: Vietnam: E-Wallet (Tech Companies) Market: Sales Value (in Million US$), 2015 & 2020
Figure 21: Vietnam: E-Wallet (Tech Companies) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 22: Vietnam: E-Wallet (Near Field Communication) Market: Sales Value (in Million US$), 2015 & 2020
Figure 23: Vietnam: E-Wallet (Near Field Communication) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 24: Vietnam: E-Wallet (Optical/QR Code) Market: Sales Value (in Million US$), 2015 & 2020
Figure 25: Vietnam: E-Wallet (Optical/QR Code) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 26: Vietnam: E-Wallet (Digital Only) Market: Sales Value (in Million US$), 2015 & 2020
Figure 27: Vietnam: E-Wallet (Digital Only) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 28: Vietnam: E-Wallet (Text-Based) Market: Sales Value (in Million US$), 2015 & 2020
Figure 29: Vietnam: E-Wallet (Text-Based) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 30: Vietnam: E-Wallet (Retail) Market: Sales Value (in Million US$), 2015 & 2020
Figure 31: Vietnam: E-Wallet (Retail) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 32: Vietnam: E-Wallet (Transportation) Market: Sales Value (in Million US$), 2015 & 2020
Figure 33: Vietnam: E-Wallet (Transportation) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 34: Vietnam: E-Wallet (Media and Entertainment) Market: Sales Value (in Million US$), 2015 & 2020
Figure 35: Vietnam: E-Wallet (Media and Entertainment) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 36: Vietnam: E-Wallet (Energy & Utilities) Market: Sales Value (in Million US$), 2015 & 2020
Figure 37: Vietnam: E-Wallet (Energy & Utilities) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 38: Vietnam: E-Wallet (Telecommunication) Market: Sales Value (in Million US$), 2015 & 2020
Figure 39: Vietnam: E-Wallet (Telecommunication) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 40: Vietnam: E-Wallet (Other Verticals) Market: Sales Value (in Million US$), 2015 & 2020
Figure 41: Vietnam: E-Wallet (Other Verticals) Market Forecast: Sales Value (in Million US$), 2021-2026
Figure 42: Vietnam: E-Wallet Industry: SWOT Analysis
Figure 43: Vietnam: E-Wallet Industry: Value Chain Analysis
Figure 44: Vietnam: E-Wallet Industry: Porter’s Five Forces Analysis

List of Tables

Table 1: Vietnam: E-Wallet Market: Key Industry Highlights, 2020 and 2026
Table 2: Vietnam: E-Wallet Market Forecast: Breakup by Type (in Million US$), 2021-2026
Table 3: Vietnam: E-Wallet Market Forecast: Breakup by Ownership (in Million US$), 2021-2026
Table 4: Vietnam: E-Wallet Market Forecast: Breakup by Technology (in Million US$), 2021-2026
Table 5: Vietnam: E-Wallet Market Forecast: Breakup by Vertical (in Million US$), 2021-2026
Table 6: Vietnam: E-Wallet Market: Competitive Structure
Table 7: Vietnam: E-Wallet Market: Key Players

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