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Vietnam Country Report

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  • Published Date: February 2017

A comprehensive overview of the cards, payments and consumer banking market in Vietnam.

VIETNAM CARDS & PAYMENTS REPORT | KEY FACTS

  • With a young, largely unbanked population of some 93 million, Vietnam's retail banking and payment cards market has huge development potential in the medium- to long-term.
  • Vietnam's relatively young banking sector has been undergoing a process of consolidation since 2012. At least seven mergers took place during 2015, and two banks were nationalised.
  • The Vietnamese government and central bank are also taking various initiatives to encourage electronic payments and to reduce the overwhelming preference for cash-based transactions.
  • A single domestic card switch resulted from the merger of all three domestic debit card networks in the country in December 2014. The new firm was renamed NAPAS in April 2016.
  • Payment card penetration is high for a developing market with 167 cards per 100 adults.
  • However, a large proportion of cards are inactive and those which are in use are used predominantly for cash withdrawal.
  • Less than one in six cards in issue are on international networks, the majority of which are Visa-branded.
  • Credit card profitability is low at an estimated $4 per card in 2016. This is largely due to a low rollover rate on credit card debt.
  • VietinBank is the leading issuer in the market with an estimated 1.9 million credit cards and 23 million debit cards in issue at the end of 2016.
  • Vietcombank dominates the merchant acquiring landscape with a market share of close to 40 per cent.

Vietnam Payments Research | Report Contents

Demographics and Economy:
Outlines the key metrics and trends which influence the development of retail banking and payments in the country:

  • Population structure
  • Income
  • Mobile and internet use
  • Economic data

Retail Banking:
Explores the structure of the local banking system, its infrastructure and the leading players. Data includes:

  • Aggregate retail banking indicators
  • Bank branch, ATMs and POS terminals
  • The profitability of top banks

Consumer Finance:
Overview of consumer finance in the country. Categories analysed include:

  • Mortgage loans
  • Personal loans
  • Credit card loans
  • Vehicle loans

Credit Cards:
Industry-leading credit card coverage. We detail the past present and future of the industry through our data and commentary, including:

  • Market size split by consumer and commercial credit cards: number of cards, transaction volume, billed volume
  • Profit pool analysis
  • Competitive landscape: networks, issuers

Debit Cards:

  • Market size: number of cards, transaction volume, billed volume
  • Competitive landscape: networks, issuers

Prepaid Cards:

  • Market size: number of cards, transaction volume, billed volume

MORE ASIA-PACIFIC CARDS & PAYMENTS REPORTS

Verisk financial reports include detailed market and competitor intelligence on payments cards, e-money, acquiring, retail banking, and consumer credit in the Asia Pacific region. Analysts use primary and secondary source data and conduct in-depth interviews with senior industry executives and finance experts.

See more Asia-Pacific Country Reports or explore the full range of cards and payments reports available for 72 markets worldwide.

To find out more or to discuss subscription options, please email: research_enquiries@verisk.com or telephone: +44(0)20 7337 4200.