Market Share of Vietnam Mobile Payments Industry
The Vietnam mobile payments market is moderately consolidated and consists of several major players. The major players with a prominent share in the market such as M_Service, Viettel Digital Services, ZaloPay, National Payment Corporation of Vietnam, GrabPay, etc., are focusing on expanding their customer base across foreign countries through the adoption of various technologies.
- April 2022 - The Accumulation Account product was developed by ZaloPay as an electronic wallet with various advantages for users. To invest and make money, anyone may use idle funds up to a maximum of 10,000 VND. Profit paid daily, at a rate of 5% annually. The product is under the control of BIDV and ACB Fund Management Company Limited (ACBC) for the purpose of making savings deposits at Vietnamese banks.
- December 2021 - MoMo, the prominent e-wallet provider in Vietnam, announced that it has raised USD 200 million from four investors, including Mizuho Bank, raising its valuation beyond USD 2 billion. In addition to Ward Ferry Management, the investment group included current owners Goodwater Capital LLC and Kora Management, according to a statement from MoMo.
Vietnam Mobile Payments Market Leaders
M_Service
Viettel Digital Services
ZaloPay
Grab Co., Ltd.
National Payment Corporation of Vietnam
*Disclaimer: Major Players sorted in no particular order
