Vietnam’s prepaid card and digital wallet market is expected to grow 26.6 percent year-on-year to reach US$7.19 billion in 2025, according to a report from Research and Markets→view souce.
Key points in the report include:
- The market grew at a CAGR of 30.7 percent from 2020 to 2024 and is forecast to expand at 23.1 percent CAGR from 2025 to 2029, reaching US$16.52 billion by 2029.
- Government incentives and stricter security measures are accelerating digital financial inclusion and reducing cash dependency.
- Integration of prepaid cards with digital wallets is improving convenience and security for online and offline transactions.
- Banks are expanding domestic prepaid card programs through the NAPAS network to lower fees and promote local payment infrastructure.
- Major banks (Vietcombank, BIDV, Sacombank) and fintech firms (MoMo, ZaloPay) are intensifying competition with new prepaid solutions.
- Prepaid cards are increasingly used in retail, payroll, travel, utilities, and government disbursements, supporting wider financial inclusion.
- Firms like Got It have reported strong growth in digital gift cards, reflecting rising demand for flexible digital payment options.
See also: Banking in Vietnam 2025: Account Ownership, Mobile Money & Key Players