From Pocket Money to Portfolio: Gen Alpha is Rewriting the Rules of Financial Literacy – Mastercard Report

Gen Alpha (the digital-first generation born 2010 onwards) isn’t waiting to grow up before engaging with money — they’re already making their mark on the world of digital finance. In Vietnam, the research of Mastercard shows that 98% of Gen Alpha children already have access to some form of financial account, while many hold saving accounts (57%), app store accounts with payment methods linked (54%), or mobile or digital wallets (52%).

According to a Mastercard report, research results indicate that Gen Alpha parents anticipate their children will grow up in a digital-first financial world—one where they may never own a physical wallet (73%) or carry cash. And while kids are gaining early exposure to money matters, many Gen Alpha parents in Vietnam are actively working to keep pace:

• 75% believe their children are more financially savvy than they were at the same age.
• 61% are unsure that their financial knowledge applies to their children’s generation.
• 59% admit their kids know more about new payment methods than they do.
• 81% wish there were more tools available to teach children about finances.

With the rise of digital wallets, mobile payments and virtual accounts, Vietnamese families are calling for smarter, future-ready solutions that will set their children up for success. This gives visionary banks and financial institutions an opportunity to pave the way by delivering digital tools that not only simplify money management but also support how children learn about finances. For instance, Gen Alpha parents in Vietnam are showing strong interest in features like educational content (73%), parental controls (58%), real-world learning simulations (52%), seamless account transfers (49%), and gamified experiences (29%).

“To truly connect with Gen Alpha—and their parents—the payments sector needs to speak their language. These kids aren’t here to play—they’re here to slay, save, and spend smart. They’re low-key money bosses, tapping phones before they can tie shoes and turning budgeting apps into their playground. Cash? Not their go-to. Today, it’s all Tap & Go. For banks and FIs, the signal’s loud and clear: Gen Alpha expects payment experiences that match their vibe—seamless, savvy, and built-in from day one. Think custom digital wallets, in-app payments that just flow, and secure tools that level up as their finance game evolves,” said Sandeep Malhotra, Executive Vice President, Core Payments, Asia Pacific, Mastercard.

Source: Vietnam Business Forum