Unlock the potential of the Vietnam Cards and Payments Market. Dive into the evolving landscape of financial transactions, digital payments, and innovative card solutions in this Southeast Asian hub. From traditional methods to cutting-edge technologies, stay ahead of the curve with expert analysis and trends shaping the dynamic cards and payments market in Vietnam. Trust to guide you through the future of finance in Vietnam.

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Vietnam Cards and Payments Market Dynamics

Alternative payments are gaining prominence in the country, with several international and domestic payment methods being offered. Most recently, Google Wallet was launched in the country to allow users to make in-store, online, and in-app payments. In addition to payments, Google Wallet enables users to store cards, tickets, passes, keys, and IDs. Google Wallet has been launched for Visa cardholders in Vietnam and is supported by ACB, Sacombank, Shinhan Bank, Techcombank, TPBank, Vietcombank, and VPBank.

Amidst the increasing adoption of mobile devices, the growing popularity of e-commerce, and the need for contactless payments, alternative solutions such as FacePay, VoicePay, and ChatPay are rising in popularity. Several major banks and fintech companies have introduced biometric payment options, allowing customers to make transactions using their face or voice as authentication. For instance, OCB introduced FacePay in its digital banking app OCB OMNI in June 2022, allowing customers to make payments by scanning their faces.