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Country Report

Debit Transactions in

Debit Cards in Vietnam

Nov 2019

US$990

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Executive Summary

New Report Guarantee

If you purchase a report that is updated in the next 60 days, we will send you the new edition and data extract FREE!

PROSPECTS

Most debit cards are used just for cash withdrawals

While white-collar workers in the big cities are gradually adopting cashless payments, in suburban and rural areas debit cards are still used mainly for making cash withdrawals, not least because consumers have little or no knowledge about the other functions of the cards. Many companies have opened salary accounts for their employees, particularly in the industrial zones.

Paying in cash is a tradition that is hard to shake

Making cash payments is an engrained habit of very long standing that is hard to break among local consumers. This is also made harder in rural areas where modern technology is still limited and with a great percentage of the traditional retailers that are very common in rural Vietnam not accepting financial cards.

Average spend per transaction remains high

The spend per transaction with debit cards was relatively high in Vietnam. This was due in part to debit cards often being used for cash withdrawals.

COMPETITIVE LANDSCAPE

Local banks dominate debit cards, with Vietcombank the leading issuer

Local banks such as Vietcombank, Agribank, BIDV or Vietinbank dominate debit cards, even if it is the global banks that seem to be more active in the marketplace through their many promotional activities across all media channels. However, debit cards only work based on a deposit or transacting bank account, which leads to the very low number of debit cards issued by international banks due to the smaller number of deposit accounts they hold.

NAPAS pledges to boost cashless and even contactless payments

The number of cards in circulation that are not being used is considered to be a problem that the government wants to see the banks gain greater control of. Some consumers have a large number of cards, but will only use one or two of them on a regular basis.

Increasing demand for card use abroad

With higher incomes and improving living standards, travelling is becoming more prevalent, so that the possibility of making payments in other countries with low or zero exchange fees has been targeted by many players. In 2019, Vietnam Technological & Commercial Bank, more commonly known as Techcombank, enjoyed a successful year with very strong growth thanks to its “cashback” programmes for both credit cards and debit cards.

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Overview

Why buy this report?

Gain competitive intelligence about market leaders. Track key industry trends, opportunities and threats. Inform your marketing, brand, strategy and market development, sales and supply functions.

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Delivery Method

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Overview

Discover the latest market trends and uncover sources of future market growth for the Debit Transactions industry in Vietnam with research from Euromonitor's team of in-country analysts.

Find hidden opportunities in the most current research data available, understand competitive threats with our detailed market analysis, and plan your corporate strategy with our expert qualitative analysis and growth projections.

If you're in the Debit Transactions industry in Vietnam, our research will save you time and money while empowering you to make informed, profitable decisions.

The Debit Transactions in Vietnam market research report includes:

Analysis of key supply-side and demand trends
Detailed segmentation of international and local products
Historic volumes and values, company and brand market shares
Five year forecasts of market trends and market growth
Robust and transparent market research methodology, conducted in-country

Our market research reports answer questions such as:

What is the market size of Debit Transactions in Vietnam?
What are the major operators and issuers in Vietnam?
What is the current state and expected evolution of consumer payment preference?
What payment instrument offers the highest growth potential?
What strategies and positioning have consumer finance companies utilized to win in the market?

Why buy this report?

Gain competitive intelligence about market leaders
Track key industry trends, opportunities and threats
Inform your marketing, brand, strategy and market development, sales and supply functions

Euromonitor’s industry reports, including Debit Transactions in Vietnam, originate from our database within our Consumer Finance market share and market size database.

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Charge Cards in Vietnam - Category analysis

Charge Cards in Vietnam - Company Profile

PROSPECTS

Credit Cards in Vietnam - Category analysis

Credit Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Credit cards still the most dynamic financial cards

No let-up expected in the strong performance of credit cards

Cardholders would benefit from more education about card fees and charges

COMPETITIVE LANDSCAPE

Foreign players and financial companies start issuing credit cards as competition continues heating up

Industry players to keep improving benefits and terms as consumers become more picky in their choice of credit card

Increased targeting of low- and middle-income consumers causes concerns about overdue payments

CATEGORY DATA

Table 1 Credit Cards: Number of Cards in Circulation 2014-2019
Table 2 Credit Cards Transactions 2014-2019
Table 3 Credit Cards in Circulation: % Growth 2014-2019
Table 4 Credit Cards Transactions: % Growth 2014-2019
Table 5 Commercial Credit Cards: Number of Cards in Circulation 2014-2019
Table 6 Commercial Credit Cards Transactions 2014-2019
Table 7 Commercial Credit Cards in Circulation: % Growth 2014-2019
Table 8 Commercial Credit Cards Transactions: % Growth 2014-2019
Table 9 Personal Credit Cards: Number of Cards in Circulation 2014-2019
Table 10 Personal Credit Cards Transactions 2014-2019
Table 11 Personal Credit Cards in Circulation: % Growth 2014-2019
Table 12 Personal Credit Cards Transactions: % Growth 2014-2019
Table 13 Credit Cards: Number of Cards by Issuer 2014-2018
Table 14 Credit Cards: Number of Cards by Operator 2014-2018
Table 15 Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 16 Credit Cards Payment Transaction Value by Operator 2014-2018
Table 17 Commercial Credit Cards: Number of Cards by Issuer 2014-2018
Table 18 Commercial Credit Cards: Number of Cards by Operator 2014-2018
Table 19 Commercial Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 20 Commercial Credit Cards Payment Transaction Value by Operator 2014-2018
Table 21 Personal Credit Cards: Number of Cards by Issuer 2014-2018
Table 22 Personal Credit Cards: Number of Cards by Operator 2014-2018
Table 23 Personal Credit Cards Payment Transaction Value by Issuer 2014-2018
Table 24 Personal Credit Cards Payment Transaction Value by Operator 2014-2018
Table 25 Forecast Credit Cards: Number of Cards in Circulation 2019-2024
Table 26 Forecast Credit Cards Transactions 2019-2024
Table 27 Forecast Credit Cards in Circulation: % Growth 2019-2024
Table 28 Forecast Credit Cards Transactions: % Growth 2019-2024
Table 29 Forecast Commercial Credit Cards: Number of Cards in Circulation 2019-2024
Table 30 Forecast Commercial Credit Cards Transactions 2019-2024
Table 31 Forecast Commercial Credit Cards in Circulation: % Growth 2019-2024
Table 32 Forecast Commercial Credit Cards Transactions: % Growth 2019-2024
Table 33 Forecast Personal Credit Cards: Number of Cards in Circulation 2019-2024
Table 34 Forecast Personal Credit Cards Transactions 2019-2024
Table 35 Forecast Personal Credit Cards in Circulation: % Growth 2019-2024
Table 36 Forecast Personal Credit Cards Transactions: % Growth 2019-2024

Debit Cards in Vietnam - Category analysis

Debit Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Most debit cards are used just for cash withdrawals

Paying in cash is a tradition that is hard to shake

Average spend per transaction remains high

COMPETITIVE LANDSCAPE

Local banks dominate debit cards, with Vietcombank the leading issuer

NAPAS pledges to boost cashless and even contactless payments

Increasing demand for card use abroad

CATEGORY DATA

Table 37 Debit Cards: Number of Cards in Circulation 2014-2019
Table 38 Debit Cards Transactions 2014-2019
Table 39 Debit Cards in Circulation: % Growth 2014-2019
Table 40 Debit Cards Transactions: % Growth 2014-2019
Table 41 Debit Cards: Number of Cards by Issuer 2014-2018
Table 42 Debit Cards: Number of Cards by Operator 2014-2018
Table 43 Debit Cards Payment Transaction Value by Issuer 2014-2018
Table 44 Debit Cards Payment Transaction Value by Operator 2014-2018
Table 45 Forecast Debit Cards: Number of Cards in Circulation 2019-2024
Table 46 Forecast Debit Cards Transactions 2019-2024
Table 47 Forecast Debit Cards in Circulation: % Growth 2019-2024
Table 48 Forecast Debit Cards Transactions: % Growth 2019-2024

Pre-Paid Cards in Vietnam - Category analysis

Pre-Paid Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Pre-paid cards used for financial control

Pre-paid cards much less popular than credit and debit cards

General-purpose reloadable cards dominate open loop pre-paid cards

COMPETITIVE LANDSCAPE

No first-year fees and easy top-up help Asia Commercial JSB maintain its leading position

Lack of marketing activities for pre-paid cards

Limited earning potential makes pre-paid cards less attractive for the banks

CATEGORY DATA

Table 49 Pre-paid Cards: Number of Cards in Circulation 2014-2019
Table 50 Pre-paid Cards Transactions 2014-2019
Table 51 Pre-paid Cards in Circulation: % Growth 2014-2019
Table 52 Pre-paid Cards Transactions: % Growth 2014-2019
Table 53 Open Loop Pre-paid Cards Transactions 2014-2019
Table 54 Open Loop Pre-paid Cards Transactions: % Growth 2014-2019
Table 55 Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 56 Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 57 Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 58 Pre-paid Cards Transaction Value by Operator 2014-2018
Table 59 Open Loop Pre-paid Cards: Number of Cards by Issuer 2014-2018
Table 60 Open Loop Pre-paid Cards: Number of Cards by Operator 2014-2018
Table 61 Open Loop Pre-paid Cards Transaction Value by Issuer 2014-2018
Table 62 Open Loop Pre-paid Cards Transaction Value by Operator 2014-2018
Table 63 Forecast Pre-paid Cards: Number of Cards in Circulation 2019-2024
Table 64 Forecast Pre-paid Cards Transactions 2019-2024
Table 65 Forecast Pre-paid Cards in Circulation: % Growth 2019-2024
Table 66 Forecast Pre-paid Cards Transactions: % Growth 2019-2024
Table 67 Forecast Open Loop Pre-paid Cards Transactions 2019-2024
Table 68 Forecast Open Loop Pre-paid Cards Transactions: % Growth 2019-2024

Store Cards in Vietnam - Category analysis

Store Cards in Vietnam - Company Profile

PROSPECTS

Financial Cards and Payments in Vietnam - Industry Overview

EXECUTIVE SUMMARY

Dynamic financial cards growth despite cash still being king in much of Vietnam

New regulation widens the age group for banking customers

Majority of cards not used for payment transactions

Technology an increasingly useful marketing tool for industry players

Financial cards to continue seeing strong growth over the forecast period

MARKET INDICATORS

Table 69 Number of POS Terminals: Units 2014-2019
Table 70 Number of ATMs: Units 2014-2019
Table 71 Value Lost to Fraud 2014-2019
Table 72 Card Expenditure by Location 2019
Table 73 Financial Cards in Circulation by Type: % Number of Cards 2014-2019
Table 74 Domestic versus Foreign Spend 2019

MARKET DATA

Table 75 Financial Cards by Category: Number of Cards in Circulation 2014-2019
Table 76 Financial Cards by Category: Number of Accounts 2014-2019
Table 77 Financial Cards Transactions by Category: Value 2014-2019
Table 78 Financial Cards by Category: Number of Transactions 2014-2019
Table 79 Consumer Payments by Category: Value 2014-2019
Table 80 Consumer Payments by Category: Number of Transactions 2014-2019
Table 81 M-Commerce by Category: Value 2014-2019
Table 82 M-Commerce by Category: % Value Growth 2014-2019
Table 83 Financial Cards: Number of Cards by Issuer 2014-2018
Table 84 Financial Cards: Number of Cards by Operator 2014-2018
Table 85 Financial Cards: Card Payment Transactions Value by Operator 2014-2018
Table 86 Financial Cards: Card Payment Transactions Value by Issuer 2014-2018
Table 87 Forecast Financial Cards by Category: Number of Cards in Circulation 2019-2024
Table 88 Forecast Financial Cards by Category: Number of Accounts 2019-2024
Table 89 Forecast Financial Cards Transactions by Category: Value 2019-2024
Table 90 Forecast Financial Cards by Category: Number of Transactions 2019-2024
Table 91 Forecast Consumer Payments by Category: Value 2019-2024
Table 92 Forecast Consumer Payments by Category: Number of Transactions 2019-2024
Table 93 Forecast M-Commerce by Category: Value 2019-2024
Table 94 Forecast M-Commerce by Category: % Value Growth 2019-2024

Megatrends

Country Report

Debit Cards in Vietnam

New Report Guarantee

Executive Summary

New Report Guarantee

PROSPECTS

Most debit cards are used just for cash withdrawals

Paying in cash is a tradition that is hard to shake

Average spend per transaction remains high

COMPETITIVE LANDSCAPE

Local banks dominate debit cards, with Vietcombank the leading issuer

NAPAS pledges to boost cashless and even contactless payments

Increasing demand for card use abroad

Overview

Why buy this report?

SAMPLES

Delivery Method

Overview

Why buy this report?

Want to find out more about this report?

Table of Contents

Charge Cards in Vietnam - Category analysis

Charge Cards in Vietnam - Company Profile

PROSPECTS

Credit Cards in Vietnam - Category analysis

Credit Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Credit cards still the most dynamic financial cards

No let-up expected in the strong performance of credit cards

Cardholders would benefit from more education about card fees and charges

COMPETITIVE LANDSCAPE

Foreign players and financial companies start issuing credit cards as competition continues heating up

Industry players to keep improving benefits and terms as consumers become more picky in their choice of credit card

Increased targeting of low- and middle-income consumers causes concerns about overdue payments

CATEGORY DATA

Debit Cards in Vietnam - Category analysis

Debit Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Most debit cards are used just for cash withdrawals

Paying in cash is a tradition that is hard to shake

Average spend per transaction remains high

COMPETITIVE LANDSCAPE

Local banks dominate debit cards, with Vietcombank the leading issuer

NAPAS pledges to boost cashless and even contactless payments

Increasing demand for card use abroad

CATEGORY DATA

Pre-Paid Cards in Vietnam - Category analysis

Pre-Paid Cards in Vietnam - Company Profile

HEADLINES

PROSPECTS

Pre-paid cards used for financial control

Pre-paid cards much less popular than credit and debit cards

General-purpose reloadable cards dominate open loop pre-paid cards

COMPETITIVE LANDSCAPE

No first-year fees and easy top-up help Asia Commercial JSB maintain its leading position

Lack of marketing activities for pre-paid cards

Limited earning potential makes pre-paid cards less attractive for the banks

CATEGORY DATA

Store Cards in Vietnam - Category analysis

Store Cards in Vietnam - Company Profile

PROSPECTS

Financial Cards and Payments in Vietnam - Industry Overview

EXECUTIVE SUMMARY

Dynamic financial cards growth despite cash still being king in much of Vietnam

New regulation widens the age group for banking customers

Majority of cards not used for payment transactions

Technology an increasingly useful marketing tool for industry players

Financial cards to continue seeing strong growth over the forecast period

MARKET INDICATORS

MARKET DATA

SOURCES

Why buy this report?

Want to find out more about this report?

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