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Vietnam Mobile Payment Market by Type, End User Type of Purchase and Application - Opportunity Analysis and Industry Forecast, 2018-2025

  • ID: 4621201
  • Report
  • Region: Vietnam
  • 128 pages
  • Allied Analytics LLP
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Mobile payment refers to payment services remotely performed through messages or mobile apps. Various mobile payment media, such as near-field communication (NFC), have been introduced to facilitate rapid money transfer. E-payment methods have been widely used in Vietnam, owing to change in customer preference from cash to digital payments and technological developments. In addition, rise in adoption of smartphones and increase in internet penetration have fostered several banks in the country to implement immediate payment services.

Surge in need for immediate transactions in Vietnam is anticipated to be one of the major drivers of the Vietnam mobile payment market. In December 2017, Vietnam's e-payment pioneer, MoMo, signed an agreement with a U.S.-based ride-hailing company, Uber Technologies, to enable passengers to pay for rides along with utility bills, airline tickets, and online purchases using the MoMo app. Moreover, banks in Vietnams have been focusing on e-payment; for instance, Sacombank and Maritime Bank have launched their own QR code-based online payment services, which are used at stores and restaurants. Thus, growth of the e-commerce industry, increased penetration of smartphones, improvement in standard of living, and need for quick & hassle-free transactions drive the growth of the mobile payment market in Vietnam. However, data breaches & security concerns are expected to impede the market growth. Conversely, rise in awareness about mobile payment, exposure to social media, and increase in popularity of cashless payments in Vietnam are expected to present major opportunities for market expansion during the forecast period.

The Vietnam mobile payment market is categorized based on type, mode of transaction, type of purchase, application, and end user. Depending on type, the market is bifurcated into proximity payment and remote payment. By mode of transaction, it comprises short message service (SMS), near-field communication (NFC), and wireless application protocol (WAP). On the basis of type of purchase, it is segmented into airtime transfer & top-ups, money transfers & payments, merchandise & coupons, travel & ticketing, and others. The applications covered in the study include hospitality & tourism, media & entertainment, retail, healthcare, energy & utilities, IT & telecommunication, and others. According to end user, the market is classified into personal and business.

The key players profiled in the report include Mobivi, NganLuong, OnePay, Smartlink, Orange S.A., PayPal Holdings, Inc., Payoo, MOMO, 123Pay, and SohaPay.

Key Benefits for Stakeholders

This study includes the analytical depiction of the Vietnam mobile payment market along with current trends and future estimations to determine the imminent investment pockets.

The report presents information related to key drivers, restraints, and opportunities.

The current market is quantitatively analyzed from 2016 to 2025 to highlight the financial competency of the industry.

Porter’s Five Forces analysis illustrates the potency of buyers & suppliers in the Vietnam mobile payment industry.

Vietnam Mobile Payment Market Key Segments:

By Type

Proximity payment

Remote payment

By Mode Of Transaction

Short message service (SMS)

Near-field communication (NFC)

Wireless application protocol (WAP)

By End User

Personal

Business

By Type Of Purchase

Airtime transfer & top-up

Money transfer & payment

Merchandise & coupon

Travel & ticketing

Others

By Applications

Hospitality & tourism

Media & entertainment

Retail

Healthcare

Energy & utilities

IT & telecommunication

Others

Key Market Players

Mobivi

NganLuong

OnePay

Smartlink

Orange S.A.

PayPal Holdings, Inc.

Payoo

MOMO

123Pay

SohaPay
Note: Product cover images may vary from those shown
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CHAPTER 1: INTRODUCTION
1.1. Report description
1.2. Key benefits for stakeholders
1.3. Research methodology
1.3.1. Secondary research
1.3.2. Primary research
1.3.3. Analyst tools & models

CHAPTER 2: EXECUTIVE SUMMARY
2.1. CXO perspective

CHAPTER 3: MARKET OVERVIEW
3.1. Market definition and scope
3.2. Key findings
3.2.1. Top impacting factors
3.2.2. Top investment pockets
3.2.3. Top winning strategies
3.3. Porter's five forces analysis
3.4. Key Player Positioning, 2016
3.5. Market dynamics
3.5.1. Drivers
3.5.1.1. Increase in penetration of smartphones
3.5.1.2. Growth of the m-commerce industry
3.5.1.3. Development of the fintech & payment industry
3.5.2. Restraints
3.5.2.1. Data breach & security concerns
3.5.3. Opportunities
3.5.3.1. Increase in demand for fast & hassle-free transaction services
3.5.3.2. Initiatives to drive cashless payments in Vietnam

CHAPTER 4: VIETNAM MOBILE PAYMENT MARKET, BY TYPE
4.1. Overview
4.2. Proximity payment
4.2.1. Key market trends, growth factors, and opportunities
4.2.2. Market size and forecast
4.3. Remote payment
4.3.1. Key market trends, growth factors, and opportunities
4.3.2. Market size and forecast

CHAPTER 5: VIETNAM MOBILE PAYMENT MARKET, BY MODE OF TRANSACTION
5.1. Overview
5.2. Short message service (SMS)
5.2.1. Key market trends, growth factors, and opportunities
5.2.2. Market size and forecast
5.3. Wireless application protocol (WAP)
5.3.1. Key market trends, growth factors, and opportunities
5.3.2. Market size and forecast
5.4. Near-field communication (NFC)
5.4.1. Key market trends, growth factors, and opportunities
5.4.2. Market size and forecast

CHAPTER 6: VIETNAM MOBILE PAYMENT MARKET, BY END USER
6.1. Overview
6.2. Personal
6.2.1. Key market trends, growth factors, and opportunities
6.2.2. Market size and forecast
6.3. Business
6.3.1. Key market trends, growth factors, and opportunities
6.3.2. Market size and forecast

CHAPTER 7: VIETNAM MOBILE PAYMENT MARKET, BY APPLICATION
7.1. Overview
7.2. Hospitality & tourism
7.2.1. Key market trends, growth factors, and opportunities
7.2.2. Market size and forecast
7.3. Media & entertainment
7.3.1. Key market trends, growth factors, and opportunities
7.3.2. Market size and forecast
7.4. Retail
7.4.1. Key market trends, growth factors, and opportunities
7.4.2. Market size and forecast
7.5. Healthcare
7.5.1. Key market trends, growth factors, and opportunities
7.5.2. Market size and forecast
7.6. Energy & utilities
7.6.1. Key market trends, growth factors, and opportunities
7.6.2. Market size and forecast
7.7. IT & telecommunications
7.7.1. Key market trends, growth factors, and opportunities
7.7.2. Market size and forecast
7.8. Others
7.8.1. Key market trends, growth factors, and opportunities
7.8.2. Market size and forecast

CHAPTER 8: VIETNAM MOBILE PAYMENT MARKET, BY TYPE OF PURCHASE
8.1. Overview
8.2. Airtime transfers & top-ups
8.2.1. Key market trends, growth factors, and opportunities
8.2.2. Market size and forecast
8.3. Money transfers & payments
8.3.1. Key market trends, growth factors, and opportunities
8.3.2. Market size and forecast
8.4. Merchandise & coupons
8.4.1. Key market trends, growth factors, and opportunities
8.4.2. Market size and forecast
8.5. Travel & ticketing
8.5.1. Key market trends, growth factors, and opportunities
8.5.2. Market size and forecast
8.6. Others
8.6.1. Key market trends, growth factors, and opportunities
8.6.2. Market size and forecast

CHAPTER 9: COMPANY PROFILES
9.1. Mobivi
9.1.1. Company overview
9.1.2. Company snapshot
9.1.3. Product portfolio
9.2. MOMO (M_Service)
9.2.1. Company overview
9.2.2. Company snapshot
9.2.3. Product portfolio
9.2.4. Key strategic moves and developments
9.3. National Payment Corporation of Vietnam (Smartlink card JSC)
9.3.1. Company overview
9.3.2. Company snapshot
9.3.3. Product portfolio
9.3.4. Key strategic moves and developments
9.4. NganLuong.vn
9.4.1. Company overview
9.4.2. Company snapshot
9.4.3. Product portfolio
9.4.4. Key strategic moves and developments
9.5. OnePay
9.5.1. Company overview
9.5.2. Company snapshot
9.5.3. Product portfolio
9.5.4. Key strategic moves and developments
9.6. Orange S.A.
9.6.1. Company overview
9.6.2. Company snapshot
9.6.3. Operating business segments
9.6.4. Product portfolio
9.6.5. Business performance
9.6.6. Key strategic moves and developments
9.7. PayPal Holdings, Inc.
9.7.1. Company overview
9.7.2. Company snapshot
9.7.3. Operating business segments
9.7.4. Product portfolio
9.7.5. Business performance
9.7.6. Key strategic moves and developments
9.8. SohaPay Electronic Payment Tool
9.8.1. Company overview
9.8.2. Company snapshot
9.8.3. Product portfolio
9.9. VietUnion Online Services Corporation (Payoo)
9.9.1. Company overview
9.9.2. Company snapshot
9.9.3. Product portfolio
9.9.4. Key strategic moves and developments
9.10. VNG Corporation
9.10.1. Company overview
9.10.2. Company snapshot
9.10.3. Operating business segments
9.10.4. Product portfolio
Note: Product cover images may vary from those shown
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According to a recent report titled, Vietnam Mobile Payment Market by Type, Mode of Transaction, End User, Application, and Type of Purchase: Global Opportunity Analysis and Industry Forecast, 2018-2025, the Vietnam mobile payment market was valued at $16,054 million in 2016, and is projected to reach at $70,937 million by 2025, growing at a CAGR of 18.2% from 2018 to 2025.

Changes in customer preference from cash to digital payments, surge in need for immediate transactions in Vietnam, increased penetration of internet and smartphones, and growth of the e-commerce industry majorly contribute towards the growth of the market. However, data breaches & security concerns are expected to hamper the Vietnam mobile payment market growth.

Based on type, the remote payment segment dominated the Vietnam mobile payment market in 2016, and is expected to continue this trend during the forecast period, owing to extensive use of this payment method across various sectors such as IT, retail, telecommunications, hospitality, healthcare, and others. Furthermore, the proximity payment segment is expected to grow at the highest CAGR during the forecast period, owing to rising adoption of mobile point of sale (mPOS) solutions among small- and medium-sized businesses in Vietnam.

The Vietnam mobile payment market was led by the retail segment in 2016, and is projected to maintain its dominance during the forecast period. However, the hospitality & tourism segment is expected to witness the highest growth, as large number of consumers in Vietnam have been doing transportation reservations such as hotels, flights, and railway tickets through apps, mobiles, or websites.

Key Findings of the Vietnam Mobile Payment Market:

By type of purchase, the travel and ticketing segment is expected to exhibit significant growth in the Vietnam mobile payment market during the forecast period.
In 2016, the personal segment accounted for the highest revenue among the end user category.
Based on type, the remote payment segment generated the highest revenue in 2016.
As per mode of transaction, the near-field communication segment is anticipated to exhibit substantial growth during the forecast period.

Some of the key market players profiled in the report include Mobivi, NganLuong, OnePay, Smartlink, Orange S.A., PayPal Holdings, Inc., Payoo, MOMO, 123Pay, and SohaPay.
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The analyst offers exhaustive research and analysis based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. The primary research efforts include reaching out participants through mail, tele-conversations, referrals, professional networks, and face-to-face interactions.

They are also in professional corporate relations with various companies that allow them greater flexibility for reaching out to industry participants and commentators for interviews and discussions.

They also refer to a broad array of industry sources for their secondary research, which typically include; however, not limited to:

  • Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for competitive scenario and shape of the industry
  • Scientific and technical writings for product information and related preemptions
  • Regional government and statistical databases for macro analysis
  • Authentic news articles and other related releases for market evaluation
  • Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecast

Furthermore, the accuracy of the data will be analyzed and validated by conducting additional primaries with various industry experts and KOLs. They also provide robust post-sales support to clients.

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