Vietnam Leads in Digital Payment Adoption in Asia Pacific – Mastercard Report

Consumers across all generations in Vietnam are embracing the wave of payment innovation, helping to position the country as one of the region’s frontrunners in digital finance. Mastercard’s latest report reveals that the growing demand for seamless, secure, and intelligent transactions is reshaping how Vietnamese people shop, save, and manage their finances.

New payment methods continue to build momentum in Vietnam

Amid the government’s push for comprehensive digital transformation, digital payments have emerged as a leading sector. The combination of rapidly advancing technology infrastructure, a young and digitally savvy population, and high internet penetration has made Vietnam one of the most promising markets in the region. Compared to global averages, the pace of digital payment adoption in Vietnam is significantly higher, creating vast opportunities for banks, fintechs, and financial institutions to expand services and innovate products.

According to Mastercard’s report, Vietnam is leading digital finance adoption in Asia Pacific:

• 70% of consumers prefer innovative payment methods such as biometric payments, QR codes and mobile wallets
• 94% of Vietnamese consumers have used at least one form of these emerging digital payment solutions in the past year — 7% higher than the global average.
• 74% have increased their use of emerging digital payments in the last year, compared to just 51% globally.
• 98% are likely to use emerging digital payments in the coming year, surpassing the 95% global figure.
• 93% expect to use five or more payment methods in the next year, while the global average only stands at 86%.

The preference for innovation and emerging payment technologies also extends to managing money: 93% of Vietnam consumers are keen to use AI to manage their finances, particularly for fraud detection (82%), payment automation (81%), product personalization (79%) and predicting financial outcomes (77%). This highlights the need for smarter, more proactive financial tools that integrate seamlessly into consumers’ daily lives. That’s why Mastercard is investing in mobile-first and agentic AI-powered experiences like Agent Pay — which support decision-making at every step of the commerce journey.

Digital lifestyles are shaping the future trends of payments

As consumers become more tech-savvy, they are seeking hyper-convenient ways to manage money that fit seamlessly with their digital usage habits. They want flexibility to customize how they pay, tapping into digitally native methods like peer-to-peer or peer-to-merchant payments, QR codes, wearables and social commerce.

• Super apps are the new baseline: 81% of Vietnam consumers use or want all-in-one apps to manage payments, shopping, and more. As these platforms become mainstream, payment tools must meet consumers where they already are — not the other way around.
• Social shopping is shaping commerce: In the region, 39% of APAC consumers have bought through chat or social apps. In Vietnam, more than three in four consumers (77%) are interested in finding items to buy from social media and/or influencers they follow. Embedding seamless payments into digital leisure spaces like social media apps is key to enabling this shift from browsing to buying.
• Trust and security are top of mind: While 88% of Vietnamese consumers see biometric payments as more secure than traditional methods, 77% are concerned about who has access to their data. This tension highlights a broader challenge to simplify security without sacrificing control and convenience. Mastercard solutions like tokenization, Payment Passkeys and AI-driven authentication help bridge this trust gap.

“Vietnam’s lead in digital payment adoption signals more than just a shift in consumer habits—it reflects the country’s broader readiness to leapfrog into digital-first ecosystems. Consumers are no longer simply adapting to technology; they’re expecting it—built-in, secure, and intuitive by design. This is a call to innovate and build payment experiences that are not only seamless and safe, but also inclusive and relevant for every generation, from seniors to Gen Alpha – and Mastercard remains firmly committed to leading this effort in Vietnam,” said Sharad Jain, Country Manager, Vietnam, Laos and Cambodia, Mastercard.

Source: Vietnam Business Forum