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Vietnam Fintech Market Report Overview
The Vietnam fintech market reached a value of USD 18.14 Billion in 2025 and is projected to expand at a CAGR of around 17.80% during the forecast period of 2026-2035. Vietnam's rapidly expanding fintech ecosystem, driven by widespread smartphone adoption, government-backed cashless economy policies, a young and tech-savvy population, and active fintech company growth, is sustaining strong Vietnam fintech market growth. The market is expected to reach USD 93.34 Billion by 2035.
Key Market Trends and Insights
- The Cloud deployment segment is expected to record a CAGR of approximately 20.5% over the forecast period, reflecting the rapid adoption of cloud-native fintech infrastructure by Vietnam's digital payment platforms and digital banks, enabling fintech companies including MoMo, ZaloPay, and VNPAY to scale for Vietnam's growing digital payment user base.
- The Artificial Intelligence technology segment is expected to exhibit a CAGR of approximately 22.0% over the forecast period, driven by growing adoption of AI-powered credit scoring, fraud detection, KYC identity verification, and personalised financial product recommendations across Vietnam's fintech ecosystem.
- The Banking application segment is anticipated to register a CAGR of approximately 18.5% during the forecast period, reflecting the rapid digital transformation of Vietnam's banking sector, Internet Banking transactions growing 73.09% in volume in early 2026, and the expanding adoption of mobile banking and digital wallets.
Market Size & Forecast
- Market Size in (2025): USD 18.14 Billion
- Projected Market Size in (2035): USD 93.34 Billion
- Compound Annual Growth Rate (CAGR) (2026-2035): 17.80%
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| Vietnam Fintech Market Report Summary | Description | Value |
| Base Year | USD Billion | 2025 |
| Historical Period | USD Billion | 2019-2025 |
| Forecast Period | USD Billion | 2026-2035 |
| Market Size 2025 | USD Billion | 18.14 |
| Market Size 2035 | USD Billion | 93.34 |
| CAGR 2019-2025 | Percentage | XX% |
| CAGR 2026-2035 | Percentage | 17.80% |
| CAGR 2026-2035 - Market by Region | Mekong River Delta | 18.3% |
| CAGR 2026-2035 - Market by Region | South Central Coast | 16.9% |
| CAGR 2026-2035 - Market by Deployment Mode | Cloud | 23.1% |
| CAGR 2026-2035 - Market by Application | Banking | 20.3% |
| Market Share by Region | Southeast | 32.6% |
Key Trends and Recent Developments
The Vietnam fintech market is driven by government-backed cashless economy policies, the rapid growth of digital payment super apps, AI and blockchain technology adoption, expanding financial inclusion, and active regulatory innovation through fintech sandbox frameworks. Vietnam is the second-largest fintech market in ASEAN.
The State Bank of Vietnam mandated biometric verification for opening bank accounts and issuing payment cards from January 5, 2026, under Circular 45/2025/TT-NHNN. The regulation requires banks to verify biometric data before issuing cards, driving fintech companies including Vietnam Payment Solutions JSC (VNPAY) to implement biometric authentication into their digital payment services.
ONLINE MOBILE SERVICES JOINT STOCK COMPANY (MoMo) raised a USD 300 million Series E in January 2025 to finance credit scoring, micro-insurance, and wealth management modules, transitioning from a payments utility to a financial super app. MoMo has over 30 million users and 140,000 payment points, and is integrating stock trading, insurance, and lending products into its platform.
The Vietnamese government issued Decree No. 94/2025/ND-CP on the controlled testing mechanism (sandbox) in the banking sector in 2025, allowing fintech companies including ZION Joint Stock Company (ZaloPay) and Vietnam Payment Solutions JSC (VNPAY) to test new fintech products and business models including credit scoring and Open API data sharing. The sandbox promotes fintech innovation while ensuring transparency.
ZION Joint Stock Company (ZaloPay) leveraged its parent VNG Corp.'s Zalo messaging platform, which counts over 100 million users worldwide, to drive in-chat digital payments and financial services. ZaloPay reached 20 million active users by mid-2025, embedding digital payments, bill payments, and QR code transactions within the Zalo app.
AI Technology - Fastest-Growing Technology Segment Through Credit Scoring, Fraud Detection, and Personalised Finance
Artificial Intelligence is the fastest-growing technology in Vietnam's fintech market, applied to AI-powered credit scoring, fraud detection, KYC identity verification, and personalised financial product recommendations. The State Bank of Vietnam's 2025 fintech sandbox includes AI-powered credit scoring as a key innovation area.
Cloud Deployment and Non-Cash Payment Growth
Vietnam's e-wallet transaction value exceeded VND 500 trillion in 2025. Non-cash payment transactions grew 40.74% in volume in early 2026, with Internet Banking transactions increasing 73.09% in volume.
Banking Application - Largest Application Through Digital Banking Transformation
Banking is the largest Vietnam fintech application segment, driven by the digital transformation of Vietnam's banking sector, Internet Banking transactions growing 73.09% in volume in early 2026, and the expanding collaboration between traditional banks and fintech companies through open API frameworks.
Southeast Region - Dominant Vietnam Fintech Region and Non-Cash Payment Growth
The Southeast region is the dominant Vietnam fintech market, anchored by Ho Chi Minh City's status as Vietnam's largest fintech ecosystem. Ho Chi Minh City leads in digital payment adoption and fintech startup concentration, with MoMo, ZaloPay, and VNPAY operating major hubs.
Vietnam Fintech Market Segmentation
“Vietnam Fintech Market Report and Forecast 2026-2035” offers a detailed analysis of the market based on the following segments:
Market Breakup by Deployment Mode
- On-Premise
- Cloud
Key Insight: Cloud is the fastest-growing deployment mode at approximately 20.5% CAGR through cloud-native fintech platform scaling. On-Premise serves established financial institutions and banks requiring local data residency.
Market Breakup by Technology
- Application Programming Interface (API)
- Artificial Intelligence
- Robotic Process Automation
- Blockchain
- Data Analytics
- Others
Key Insight: Artificial Intelligence is the fastest-growing technology at approximately 22.0% CAGR through credit scoring, fraud detection, KYC, and personalised finance. API is the foundational technology enabling open banking and fintech-bank integration. Blockchain, RPA, and Data Analytics serve growing segments of Vietnam's financial technology ecosystem.
Market Breakup by Application
- Trading
- Banking
- Insurance
- Taxation
- Others
Key Insight: Banking is the largest application at approximately 18.5% CAGR through Vietnam's rapid digital banking transformation. Insurance (insurtech) and Trading are growing applications. Taxation fintech is expanding through digital tax compliance.
Market Breakup by Region
- Southeast
- Red River Delta
- Mekong River Delta
- South Central Coast
- Others
Key Insight: Southeast is the dominant region through Ho Chi Minh City's fintech ecosystem. Red River Delta is the second-largest through Hanoi's fintech infrastructure investment. Mekong River Delta and South Central Coast are growing through financial inclusion and mobile money expansion.
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Vietnam Fintech Market Share
By Deployment Mode, Cloud is the fastest-growing deployment while On-Premise serves established financial institutions
Cloud is the fastest-growing Vietnam fintech deployment mode, driven by fintech startups and digital payment platforms building cloud-native infrastructures to scale for Vietnam's rapidly growing digital financial services user base. MoMo, ZaloPay, VNPAY, and Timo Digital Bank deploy cloud-native platforms, while On-Premise deployment serves traditional banks.
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By Technology, API is the foundational technology while AI is the fastest-growing segment
API is the foundational technology across Vietnam's fintech ecosystem, enabling open banking integrations and real-time payment routing. VNPAY's QR payment network is integrated across more than 30 mobile banking apps via API. AI is the fastest-growing technology through credit scoring, fraud detection, personalised finance, and AI-driven customer service. Blockchain is applied to cross-border payment settlement and Data Analytics serves credit risk assessment.
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By Application, Banking is the largest application while Insurance and Trading are growing segments
Banking is the largest Vietnam fintech application, driven by the digital transformation of Vietnam's banking sector, Internet Banking transactions growing 73.09% in volume in early 2026, and fintech-bank collaboration through open APIs. Vietnam's National Payment Strategy targeting a cashless economy by 2030 is accelerating banking fintech adoption. Insurance (insurtech) is a growing application through digital micro-insurance. Trading fintech is growing through online brokerage platforms and Finhay Vietnam JSC's micro-investment application. Taxation fintech is expanding through Vietnam's digital tax compliance initiatives.
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Vietnam Fintech Market Regional Analysis
Vietnam is the second-largest ASEAN fintech market, driven by widespread smartphone adoption, government-backed cashless economy policies, a large unbanked population, and active regulatory innovation through fintech sandbox frameworks
The Vietnam fintech market operates within the broader Asia Pacific fintech market. Vietnam is the second-largest fintech market in ASEAN, with fintech companies growing from 39 in 2015 to over 200 in 2022 and e-wallet transactions exceeding VND 500 trillion in 2025. Vietnam's smartphone penetration of over 80% of adults and the National Payment Strategy targeting a cashless economy by 2030 create a structural framework for sustained fintech growth.
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Competitive Landscape
The Vietnam fintech market is contested by major domestic digital payment platforms, telecoms-backed fintech providers, and digital banks competing through ecosystem scale, product breadth, and financial inclusion reach. Key competitive dynamics include MoMo's super app expansion, ZaloPay's Zalo messaging ecosystem advantage, VNPAY's QR payment network integration, and Moca Inc.'s GrabPay integration.
ONLINE MOBILE SERVICES JOINT STOCK COMPANY (MoMo)
ONLINE MOBILE SERVICES JOINT STOCK COMPANY operates MoMo, Vietnam's leading fintech super app and e-wallet with over 30 million users and 140,000 payment points. MoMo raised a USD 300 million Series E in January 2025 to finance credit scoring, micro-insurance, and wealth management modules, transitioning from a payments utility to a financial super app, and holds the largest share of Vietnam's e-wallet market.
ZION Joint Stock Company (ZaloPay)
ZION Joint Stock Company operates ZaloPay, a leading Vietnamese digital payment platform backed by VNG Corp., Vietnam's first unicorn. ZaloPay leverages the Zalo messaging platform with over 100 million users worldwide to drive in-chat digital payments and financial services. ZaloPay reached 20 million active users by mid-2025 and benefited from the Vietnam 2025 fintech sandbox to test new financial products and Open API data sharing models.
Vietnam Payment Solutions Joint Stock Company (VNPAY)
Vietnam Payment Solutions Joint Stock Company (VNPAY) is a leading Vietnam digital payment solutions provider, operating QR payment infrastructure integrated across more than 30 mobile banking applications and available in nearly 100,000 stores across Vietnam. VNPAY has received investment from Singapore's sovereign wealth fund GIC.
VIETTEL Group
VIETTEL Group is Vietnam's largest telecommunications conglomerate, operated by the Ministry of National Defence, and operates ViettelPay (ViettelMoney) as its digital financial services platform. ViettelPay leverages Viettel's extensive telecom network and rural penetration to cross-sell mobile money, digital payments, and data bundles. VIETTEL Group has established Viettel Digital Services Corporation (VDS) to develop fintech services targeting underbanked rural populations.
Other key players include Moca Inc., PAYOO SERVICES, Timo Digital Bank, Smart Network Trading and Services Joint Stock Company, Finhay Vietnam Joint Stock Company, and NEXTPAY DIGITAL CONVERSION GROUP JOINT STOCK COMPANY, among others.
*Please note that this is only a partial list; the complete list of key players is available in the full report. Additionally, the list of key players can be customized to better suit your needs.*
Key Findings from the Vietnam Fintech Market Report
- Comprehensive analysis of the Vietnam fintech market from 2019 to 2035, covering deployment mode, technology, application, and regional dimensions
- Segment breakdowns across on-premise and cloud deployment modes; API, AI, RPA, blockchain, data analytics, and other technologies; trading, banking, insurance, taxation, and other applications; and Southeast, Red River Delta, Mekong River Delta, South Central Coast, and other regions
- Competitive benchmarking of MoMo, ZaloPay (ZION JSC), VNPAY, and Moca Inc. covering Vietnam market activities, user bases, and product portfolios
- Analysis of the SBV biometric verification mandate from January 2026, MoMo's USD 300M Series E in January 2025, Vietnam's fintech sandbox Decree 94/2025/ND-CP, and ZaloPay's 20 million active users milestone through 2035
- Strategic insights for fintech companies, digital banks, financial services investors, and technology providers on Vietnam's cashless economy target by 2030, AI fintech opportunity, and banking digitalisation demand
Why Choose Expert Market Research?
- Fintech companies, digital banks, and financial services investors in Vietnam rely on our market intelligence for market sizing, segment strategy, and investment decision-making.
- Every report draws on experienced fintech and financial services analysts with deep knowledge of Vietnam's digital payment ecosystem, regulatory environment, and competitive fintech landscape.
- Whether sizing a technology or application segment, evaluating a deployment strategy, or benchmarking competitor fintech strategies in Vietnam, our research provides the specific intelligence the market demands.
- Coverage is tailored: specific technology, application, or competitive benchmarking can be addressed through customised research options.
Call to Action
Our full report for 2026-2035 delivers the market data, technology analysis, and competitive intelligence to capture Vietnam's rapidly growing fintech market opportunity. Reach out to our team to access the complete report or request a customised version.
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*While we strive to always give you current and accurate information, the numbers depicted on the website are indicative and may differ from the actual numbers in the main report. At Expert Market Research, we aim to bring you the latest insights and trends in the market. Using our analyses and forecasts, stakeholders can understand the market dynamics, navigate challenges, and capitalize on opportunities to make data-driven strategic decisions.*
Key Questions Answered in the Report
In 2025, the market reached an approximate value of USD 18.14 Billion.
The market is estimated to grow at a CAGR of 17.80% between 2026 and 2035.
The market is estimated to witness a healthy growth during 2026-2035 to reach around USD 93.34 Billion by 2035.
The market is being driven by increasing digital adoption and a rise in financial inclusion in the country.
The key trends aiding the fintech market in Vietnam include favourable government initiatives boosting investments in fintechs and the growing adoption of innovative fintech solutions.
The major regions considered in the market are Southeast, Red River Delta, Mekong River Delta, and South Central Coast, among others.
The different deployment modes of fintech are on-premise and cloud.
The major players in the market are ONLINE MOBILE SERVICES JOINT STOCK COMPANY, ZION Joint Stock Company, Vietnam Payment Solutions Joint Stock Company (VNPAY), Moca Inc., PAYOO SERVICES, Timo Digital Bank, VIETTEL Group, Smart Network Trading and Services Joint Stock Company, Finhay Vietnam Joint Stock Company, and NEXTPAY DIGITAL CONVERSION GROUP JOINT STOCK COMPANY, among others.
Report Summary
Explore our key highlights of the report and gain a concise overview of key findings, trends, and actionable insights that will empower your strategic decisions.
| REPORT FEATURES | DETAILS |
| Base Year | 2025 |
| Historical Period | 2019-2025 |
| Forecast Period | 2026-2035 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
|
| Breakup by Deployment Mode |
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| Breakup by Technology |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Competitive Landscape |
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| Companies Covered |
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