PROSPECTS AND OPPORTUNITIES
Credit cards are set for healthy growth, driven by marketing and promotions, although BNPL services will likely pose competition
The credit card market in Vietnam is expected to experience robust growth over the forecast period in terms of both number of cards issued transaction volumes. This will be fuelled by dynamic marketing campaigns and promotional activities, led by both the government and financial institutions.
Fast expansion of QR payments will have negative impact on credit cards
QR payments have become a significant part of Vietnam's cashless payment landscape, offering a more convenient and secure alternative to traditional payment methods. The National Payment Corporation of Vietnam (NAPAS) has recently partnered with banks to enhance cross-border QR code payments, which have already been implemented in Thailand and Cambodia.
Domestic credit cards poised to increase their share, with NAPAS leading the way
The Vietnamese government continues to support the growth of domestic credit cards as part of its broader strategy to foster financial inclusion and enhance the accessibility of banking services for a wider segment of the population. Domestic credit cards particularly target low- to mid-income groups, offering an alternative to informal lending systems.
Delivery:
Files are delivered directly into your account soon after payment is received and any tax is certification is verified (where applicable).
This report comes in PDF with additional info in Excel included.
Overview:
Understand the latest market trends and future growth opportunities for the Credit Card Transactions industry in Vietnam with research from Euromonitor International's team of in-country analysts – experts by industry and geographic specialisation.
Key trends are clearly and succinctly summarised alongside the most current research data available. Understand and assess competitive threats and plan corporate strategy with our qualitative analysis, insight and confident growth projections.
If you're in the Credit Card Transactions industry in Vietnam, our research will help you to make informed, intelligent decisions; to recognise and profit from opportunity, or to offer resilience amidst market uncertainty.
The Credit Card Transactions in Vietnam report includes:
- Analysis of key supply-side and demand trends
- Detailed segmentation of international and local products
- Historic volume and value sizes, company and brand market shares
- Five year forecasts of market trends and market growth
- Robust and transparent research methodology, conducted in-country
This report answers:
- What is the market size of Credit Card Transactions in Vietnam?
- What are the major trends key to understanding Credit Card Transactions in Vietnam?
- How has COVID-19, recession and macroeconomic volatility impacted the market?
- How long will the market take to recover? What are the opportunities now?
- How will political context and shifting cultural values shape future growth?
- Where is future growth expected to be most dynamic?
Charge Cards in Vietnam - Category analysis
Charge Cards in Vietnam - Company Profile
Credit Cards in Vietnam - Category analysis
Credit Cards in Vietnam - Company Profile
KEY DATA FINDINGS
Credit cards attract businesses and tech-savvy young consumers
Regulatory changes impact credit card market
Banks launch personalised credit cards to attract distinct consumer segments
Credit cards are set for healthy growth, driven by marketing and promotions, although BNPL services will likely pose competition
Fast expansion of QR payments will have negative impact on credit cards
Domestic credit cards poised to increase their share, with NAPAS leading the way
Debit Cards in Vietnam - Category analysis
Debit Cards in Vietnam - Company Profile
KEY DATA FINDINGS
Debit card transactions retain momentum amid shift towards digital payments
Vietnamese banks target SMEs with new commercial debit card offerings
International debit cards gain traction
Debit cards will benefit from expansion of digital payment ecosystems
Enhancement of cross-border payment accessibility for Vietnamese cardholders
Fast expansion of QR payments will challenge debit card growth
Pre-Paid Cards in Vietnam - Category analysis
Pre-Paid Cards in Vietnam - Company Profile
KEY DATA FINDINGS
Rising adoption of credit cards and QR payments leads to decline in pre-paid card usage
New regulations impact pre-paid cards in Vietnam
Closed pre-paid card enter the transportation industry
Surge in electronic payments expected to impact pre-paid card usage
Investment in one-touch payment systems for public transportation services will boost demand for open-loop cards
Expected growth in share of domestic pre-paid cards, driven by NAPAS network and lower fees
Financial Cards and Payments in Vietnam - Industry Overview
Financial cards and payments in 2024: The big picture
2024 key trends
Competition heats up in digital banking as players launch innovative solutions
Government regulations seek to strengthen security and streamline banking processes
Competitive landscape
What next for financial cards and payments?
DISCLAIMER
The following categories and subcategories are included:
Credit Card Transactions
- Commercial Credit Card Transactions
-
- Average Personal Credit Card Balance
- Average Personal Credit Card Limit
- Personal Credit Card Utilisation
Credit Card Transactions
Credit cards allow for purchases against a preapproved line of credit. The account holder has the choice of whether to pay off the entire balance each month or opt for monthly instalments with the balance serving as revolving credit. If the cardholder decides to revolve a balance, the consumer pays interest. Credit cards can include affinity cards, reward cards and types of co-branded cards. Co-branded retailer cards—issued by retailers acting as financial institutions and without usage restrictions—are included in this category. Cards issued by a retailer with usage limited to a specific store within a predefined retail group fall under the store cards definition. Debit cards with an overdraft function are not counted as cards with a credit function. Payments are tracked based on the country of residence / account issuance and include outbound spend while excluding inbound spend.
See all of our definitionsWhy buy this report?
- Gain competitive intelligence about market leaders
- Track key industry trends, opportunities and threats
- Inform your marketing, brand, strategy and market development, sales and supply functions
This report originates from Passport, our Credit Card Transactions research and analysis database.
NEW REPORT GUARANTEE
If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extraction Free!