PROSPECTS AND OPPORTUNITIES
Debit cards will benefit from expansion of digital payment ecosystems
Over the forecast period, the growing adoption of debit cards in Vietnam will be bolstered by the introduction innovative payment solutions that cater to the needs of small businesses and merchants. Most recently, Visa has partnered with VNPAY to promote contactless payments through VNPAY SoftPOS - a groundbreaking payment solution that transforms smartphones into POS devices capable of accepting “tap to pay” transactions.
Enhancement of cross-border payment accessibility for Vietnamese cardholders
Historically, Vietnamese card users have faced significant barriers when using their cards abroad, including high transaction fees, unfavourable exchange rates, and limited acceptance for international services and products. These challenges have made cross-border card usage both inconvenient and costly.
Fast expansion of QR payments will challenge debit card growth
Moving forward, the growing preference for smartphone payments is expected to significantly impact the use of debit cards. Smartphone payments offer greater convenience, reducing the need for physical cards and alleviating concerns about card loss or fraudulent transactions.
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Overview:
Understand the latest market trends and future growth opportunities for the Debit 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 Debit 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 Debit 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 Debit Card Transactions in Vietnam?
- What are the major trends key to understanding Debit 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:
Debit Card Transactions
- Commercial Debit Card Transactions
- Personal Debit Card Transactions
Debit Card Transactions
Debit cards merge the functionality of both an ATM card and direct payment from a bank account (a check substitute in some markets). A debit card allows the cardholder to receive cash and monitor account activity at an ATM machine, as well as pay for goods and services via a point-of-sale terminal. A debit card payment transaction involves the automatic withdrawal of funds from the cardholder’s demand deposit bank account (checking or giro). Since the funds are removed from a bank account, no interest is charged on payments. 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 Debit Card Transactions research and analysis database.
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