Preferred Payment Methods in Vietnam 2024

With a relatively high preference for cash payments, many Vietnamese people still feel more comfortable with traditional payment methods. However, the fact that nearly 39% of people have their credit card information stored on their phones signals a clear shift toward digital payments, especially mobile transactions. This shift is further supported by the widespread use of social media platforms and payment apps for money transfers.

The future of payments in Vietnam is increasingly digital, but there are still barriers to full adoption. A sizable group of people who have set up mobile wallets but don't use them suggests that, while interest in digital wallets is high, individuals may not yet see enough value or convenience in actively using them. This presents an opportunity for businesses to enhance the functionality and ease of use of mobile wallets to drive engagement.

Uncover more insights with related statistics on Vietnam’s cryptocurrency adoption rate, Vietnamese cryptocurrency engagement, Vietnamese cryptocurrency awareness.