Vietnam emerges as an Asia-Pacific leader in digital payments: Mastercard report

THE HANOI TIMES — Vietnam ranks among Asia-Pacific’s leaders in digital payments with 70% of consumers preferring to pay through biometrics, QR codes, mobile wallets and other electronic solutions, according to Mastercard’s latest report.

The report found that an impressive 94% of respondents had used at least one new digital payment method in the past year, exceeding the global average by seven percentage points.

Meanwhile, 74% adopted additional digital payment options, compared to only 51% globally. Almost all Vietnamese consumers (98%) are likely to continue using these methods in the next year and 93% expect to use five or more payment types, far above the 86% global rate.

This openness extends to AI-driven financial management, with 93% of consumers in Vietnam welcoming AI applications in areas such as fraud detection (82%), payment automation (81%), personalized financial products (79%) and predictive analytics (77%).

The findings highlight the growing demand for intelligent, seamless financial tools that are increasingly integrated into daily life. 

Mastercard is investing heavily in this space, particularly in autonomous AI solutions and mobile experiences such as AgentPay.

As Vietnamese consumers grow increasingly tech-savvy, they are seeking more personalized, convenient ways to manage money, from peer-to-peer and person-to-business payments to smart devices and social commerce.

Notably, 81% of Vietnamese users prefer an all-in-one “super app” for managing payments, shopping and daily services.

Social media is also influencing e-commerce trends as the region witnessing 39% of consumers having made purchases via chat or social apps.

In Vietnam, 77% of users said they were interested in discovering products through social networks or influencers, showing how embedded payment features can turn casual browsing into seamless purchasing.

Despite rapid growth, trust and data security remain top priorities. While 88% of Vietnamese consumers view biometric payments as safer than traditional methods, 77% still express concerns about personal data access.

This reflects the challenge of simplifying security while maintaining privacy and convenience. Mastercard’s tokenization, Payment Passkeys and AI-based authentication are among solutions helping to bridge this trust gap.

Sharad Jain, Country Manager for Vietnam, Laos and Cambodia at Mastercard, said that Vietnam’s rapid embrace of digital payments reflects a shift in consumer behavior and a cultural readiness to engage in the digital economy.

Consumers now expect technology to be secure, intuitive and seamlessly integrated by design, he said, adding that this is a call to build payment experiences that are not just safe and smooth, but also inclusive, accessible to all generations, from seniors to Gen Alpha.