Market Overview
The Vietnam fintech market size was valued at USD 19.35 Billion in 2025 and is projected to reach USD 63.25 Billion by 2034, growing at a compound annual growth rate (CAGR) of 14.06% from 2026 to 2034. This growth is driven by widespread smartphone adoption, rising internet penetration, supportive government policies promoting financial inclusion, and a young, tech-savvy population accelerating digital payments and financial services adoption. The market is reshaping Vietnam's financial ecosystem with enhanced convenience and accessibility for consumers.
Study Assumption Years
- Base Year: 2025
- Historical Period: 2020-2025
- Forecast Period: 2026-2034
Vietnam Fintech Market Key Takeaways
- The Vietnam fintech market size was valued at USD 19.35 Billion in 2025.
- The Vietnam fintech market is expected to grow at a compound annual growth rate of 14.06% from 2026 to 2034 to reach USD 63.25 Billion by 2034.
- Digital payments dominate the market with a share of 62% in 2025, driven by adoption of mobile wallets, QR code payments, and online banking solutions suited to cashless consumer preferences.
- Southern Vietnam leads the market with a 48.5% share in 2025, driven by commercial and financial hub concentration in Ho Chi Minh City and a robust fintech ecosystem.
- The market includes dynamic competition among domestic and international players across digital wallets, lending, and insurtech segments, with strategic partnerships accelerating innovation.
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Market Growth Factors
Viet Nam has a high penetration of smartphones and mobile devices that give consumers access to mobile financial services. In 2025, the internet penetration rate was nearly 79%. As a result, bank customers within urban and rural locations can utilize digital bank accounts, mobile payments, and investment apps. Affordable data plans plus improved connectivity lower adoption barriers for digital finance, creating an environment with financial solutions that provide faster, more convenient, and more inclusive options for consumers.
Government initiates actions to include finances and digitize Vietnam's economy. Regulations balance innovation and protect consumers, developing a responsible fintech ecosystem. Provision of e-payment, digital banking licenses and fintech sandboxes enables pilot or trials of digital financial products and services, enables domestic and international financial flows into the financial ecosystem, improves market confidence to adopt digital financial services and aligns public policy with market capabilities to develop the financial ecosystem.
Vietnam's young and digitally savvy population also fuel demand for digital-first banking and other financial services. More than 24 million people in Vietnam are of school going age. More than two-thirds of the population is of working age, and the preferences of Millennials and Generation Z consumers include mobile banking, instant payments, and e-commerce. They prefer convenience, transparency, and personalized products to customary banking methods, helping to drive the adoption of digital payments, lending, and wealth management and accelerating the country's fintech development.
Market Segmentation
By Type:
- Digital Payments: Constitutes 62% market share in 2025; driven by mobile wallets, QR code payments, and alignment with consumer cashless preferences.
- Online Purchases
- POS (Point of Sales) Purchases
- Personal Finance:
- Digital Asset Management Services
- Remittance/ International Money Transfers
- Alternative Financing:
- P2P Lending
- SME Lending
- Crowdfunding
- Insurtech:
- Online Life Insurance
- Online Health Insurance
- Online Motor Insurance
- Others
- B2C Financial Services Market Places:
- Banking and Credit
- Insurance
- E-Commerce Purchase Financing
- Others
Digital payments lead due to widespread smartphone usage, affordable internet, youthful population, integration with e-commerce, ride-hailing, and super apps. Government support and secure payment features boost acceptance.
Regional Insights
Southern Vietnam accounts for the dominant regional share of 48.5% in 2025. This region, particularly Ho Chi Minh City, serves as a commercial and financial hub with a dense concentration of startups and digitally engaged consumers, fostering strong demand for digital financial services. High smartphone and internet penetration, alongside a youthful working-age population, accelerates adoption of e-wallets and fintech solutions. Southern Vietnam’s vibrant startup ecosystem, private investment, and innovation-friendly policies contribute significantly to the overall fintech market growth in Vietnam.
Recent Developments & News
- December 2025: Circle Asia Technologies, a Vietnam-based credit-focused neobank, partnered with Brazilian core banking provider Pismo and global payments company Visa to launch Vietnam's first fully AI-driven PayLater card.
- November 2024: Solarvest Holdings Berhad introduced the Powervest solar financing solution in Vietnam, assisting local businesses in adopting renewable energy. The launch, alongside the DEX Connex Vietnam 2024 initiative organized by the Malaysia Digital Economy Corporation, marked a significant expansion milestone for Solarvest in the regional market.
Key Players
- Circle Asia Technologies
- Pismo
- Visa
- Solarvest Holdings Berhad
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