Mobile Payments in Vietnam: The Complete Guide for Locals and Travelers in 2025

In 2025, Vietnam processes over 26 million QR code transactions daily, making cashless payments as routine as ordering a bowl of pho in Saigon's busiest markets. Whether you're a local looking to ditch cash or a traveler wondering how to pay for that bánh mì without fumbling for dong, this guide breaks down everything you need to know about mobile payments in Vietnam.

The Mobile Payment Revolution in Vietnam

With 50 million e-wallet users and a majority of Vietnamese now using QR codes for everything from street food to taxi rides, Vietnam has become a digital payment powerhouse. The transformation has been dramatic—cash transactions dropped from 61% in 2022 to just 45% in 2023, with QR payments growing at double-digit monthly rates. This isn't just urban convenience—mobile money has reached rural villages where traditional banking never could. The government actively promotes digital payments as part of its cashless economy vision, making Vietnam one of Southeast Asia's most advanced mobile payment markets with a $40.5 billion valuation.

For Vietnamese Locals: Your Digital Payment Toolkit

Mobile Money Services - The Government's Pick

If you don't have a bank account, Mobile Money through telecom providers is your best friend. Major carriers like Viettel, MobiFone, and Vinaphone offer this government-backed service that works with just your phone number and national ID. Register at any telecom store, deposit cash at agent locations nationwide, and pay using your phone balance via USSD codes or SMS. No smartphone required—works on any mobile phone. This service specifically targets unbanked populations and has been extended through at least 2025.

E-Wallets: The Urban Standard

For smartphone users, MoMo (Vietnam's market leader), ZaloPay (VNG-backed), ViettelPay (most bank-account-friendly), and VNPay (growing rapidly) dominate the payment scene. These offer instant QR code payments at millions of merchants, bill payments, mobile top-ups, transfers, and integration with ride-hailing, food delivery, and e-commerce. ViettelPay allows cash top-ups at convenience stores for those without bank accounts.

QR Code Payments: Everywhere You Look

Vietnam's QR payment infrastructure is remarkable. From street vendors to luxury hotels, QR codes are displayed everywhere. While larger merchants typically support multiple payment methods, smaller vendors may only accept one or two specific e-wallets, so having the most popular apps installed helps ensure compatibility. Most QR codes are peer-to-peer (P2P) codes linked to personal accounts, while larger merchants increasingly use person-to-merchant (P2M) QR codes that capture richer transaction data.

For Foreign Travelers: Navigating Vietnam's Digital Landscape

Alex Grant is Barclay News’ resident translator of Wall Street noise into plain talk for Southeast Asian investors. With a background in global macro research and a passion for cutting through financial jargon, Alex has made a career out of explaining markets the way your friend might over coffee or craft beer.

Known for his knack for turning Fed policy into basketball analogies and breaking down U.S. stock market trends into lessons for Vietnamese and ASEAN readers, Alex writes the popular State of the Street column. His work connects the dots between U.S. markets, global shifts, and how they ripple into Southeast Asia’s portfolios, currencies, and commodities.

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