Region:Asia
Author(s):Geetanshi
Product Code:KRAB1387
Pages:84
Published On:October 2025
By Type:The market is segmented into Domestic Remittances, International Remittances, Digital Transfers, Cash Transfers, Mobile Transfers, Bank Transfers, and Others. Domestic Remittances remain the leading sub-segment, driven by the high volume of intra-country transactions supporting family and personal financial needs. The increasing penetration of smartphones and internet access has accelerated the adoption of Digital Transfers, which are gaining popularity due to their convenience, speed, and integration with e-wallet platforms. Mobile Transfers and Bank Transfers also show robust growth, reflecting the shift from cash-based to digital payment ecosystems .
By End-User:The end-user segmentation includes Individual Consumers, Small and Medium Enterprises (SMEs), Large Corporations, and Non-Governmental Organizations (NGOs). Individual Consumers dominate this segment, frequently utilizing digital remittance and wallet services for personal transactions, such as sending money to family members or paying for services. The rise of SMEs in Vietnam is also contributing to the growth of digital wallet services, as these businesses increasingly adopt digital payment solutions to streamline operations and facilitate business-to-business transactions. Large Corporations and NGOs are gradually increasing their adoption of digital remittance solutions, particularly for payroll and cross-border payments .
The Vietnam Digital Remittance and Wallet Services Market is characterized by a dynamic mix of regional and international players. Leading participants such as MoMo (M_Service), ZaloPay (VNG Corporation), Viettel Money (Viettel Group), VNPay, Payoo (VietUnion), ShopeePay (Sea Limited), GrabPay (Grab Holdings), Western Union, MoneyGram International, Wise (formerly TransferWise), Remitly, PayPal, Sacombank, Agribank (Vietnam Bank for Agriculture and Rural Development), Vietcombank (Bank for Foreign Trade of Vietnam) contribute to innovation, geographic expansion, and service delivery in this space.
The future of Vietnam's digital remittance and wallet services market appears promising, driven by technological advancements and increasing consumer adoption. As digital payment infrastructure expands, more users will engage with these services, enhancing financial inclusion. Additionally, the integration of artificial intelligence and blockchain technology is expected to streamline operations and improve security. These trends will likely foster a more robust ecosystem, enabling service providers to innovate and meet the evolving needs of consumers in the digital finance landscape.
| Segment | Sub-Segments |
|---|---|
| By Type | Domestic Remittances International Remittances Digital Transfers Cash Transfers Mobile Transfers Bank Transfers Others |
| By End-User | Individual Consumers Small and Medium Enterprises (SMEs) Large Corporations Non-Governmental Organizations (NGOs) |
| By Payment Method | Credit/Debit Cards Bank Transfers E-wallets Cash Payments |
| By Transaction Size | Small Transactions Medium Transactions Large Transactions |
| By Frequency of Transactions | Daily Transactions Weekly Transactions Monthly Transactions |
| By Geographic Reach | Urban Areas Rural Areas International Markets |
| By Customer Segment | Expatriates Local Residents Students Workers Abroad |
| Scope Item/Segment | Sample Size | Target Respondent Profiles |
|---|---|---|
| Digital Wallet Users | 120 | Frequent Users, Occasional Users |
| Remittance Service Providers | 80 | Product Managers, Business Development Executives |
| Expatriate Community | 60 | Vietnamese Nationals Abroad, Foreign Workers |
| Financial Institutions | 50 | Banking Executives, Fintech Innovators |
| Regulatory Bodies | 40 | Policy Makers, Compliance Officers |
The Vietnam Digital Remittance and Wallet Services Market is valued at approximately USD 18 billion, driven by the increasing adoption of digital payment solutions and the growing number of Vietnamese expatriates sending money home.
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