Fintech in Vietnam is growing at a rapid pace. A decade ago, cash payments ruled the market. Today, digital wallets, QR payments, and online banking tools are reshaping how people and businesses manage money. This shift reflects strong smartphone use, clear regulations, and rising demand for easy and secure payment options. Fintech Vietnam is now a key part of financial inclusion and is linking millions of people to reliable financial tools.
Fintech conference discussions mirror this progress. Experts point out that Vietnam had nearly 33 million active e-wallets in 2023. Non-cash payments surged as internet transactions grew by over 50%, mobile transactions more than doubled, and QR code use rose by 170% between 2021 and 2023. Fintech solution Vietnam is no longer limited to payments alone, its spanning digital banks, lending, and open banking tools.
Fintech Vietnam, a dynamic sector worth over US$15 billion in 2024 and is expected to reach US$50 billion by 2030, making it one of the fastest-growing segments of southeast Asia fintech.
Key Factors Driving Growth
Fintech in Vietnam is driven by a mix of social, economic, and regulatory factors.
A young and digitally active population forms the backbone. More than 80% of adults own smartphones, while nearly 87% hold bank accounts. The growth of e-commerce has also fueled digital payments.
Government support is another strong driver. Vietnam’s Fintech Sandbox Decree and related rules allow companies to test and launch solutions under guided oversight. The national VietQR system now connects banks and e-wallets, making digital transactions easier and safer. These steps have built confidence and spurred adoption.
Emerging Trends Shaping the Sector
Fintech conferences in Vietnam highlight several trends shaping the sector’s future. Each of these trends is opening new growth opportunities and drawing global attention.
Mobile wallets and QR payments are scaling fast. With 33 million users in 2023, they continue to grow across urban and rural areas.
Digital banks in Vietnam are reaching sustainability, with VPBank’s digital-only platform becoming the first to report profits in 2024.
Open banking is advancing. Vietnam is now among the leaders in southeast Asia fintech for open banking frameworks.
Fintech startups are multiplying. Over 260 startups now provide services in payments, lending, wealth, and insurance.
Investment is focused on payments. From 2013–2023, payment-focused fintechs attracted over USD 1 billion in funding.
Challenges Facing Fintech Growth
While growth is strong, challenges remain for fintech solution Vietnam. Without addressing them, scaling could slow in the coming years.
A clear regulatory framework is still a work in progress. Many firms believe rules for inclusive fintech are not yet complete. The shortage of skilled talent in cloud, data, and AI makes it harder to innovate. Cybersecurity risks are rising, with more attacks targeting both users and platforms.
Another issue is limited collaboration. Banks, investors, and startups often work in silos, which slows ecosystem integration. Building trust and interoperability will be crucial for long-term stability.
Opportunities for Fintech Expansion
Even with challenges, opportunities are wide open for fintech Vietnam. These opportunities align with both local demand and regional integration.
New services can target rural communities and small businesses, which remain under-served. Open banking can enable smoother integration of services through APIs. Partnerships between banks and fintechs are likely to expand, giving consumers more digital-first choices.
Beyond payments, solutions in lending, personal wealth, blockchain, and cybersecurity can create fresh paths for growth. Regional connections such as the ASEAN QR system may also boost cross-border payments and trade within southeast Asia fintech.
World Financial Innovation Series (WFIS) – Vietnam
World Financial Innovation Series (WFIS) brings together experts, data, and industry leaders to discuss the future of fintech Vietnam. We highlight the latest updates in the most in-demand category that is fintech solution Vietnam, including wallet adoption, open banking initiatives, and the regulatory sandbox. All our sessions are backed by reliable data and government compliance, ensuring credibility for every participant.
With years of global expertise, we have built a strong track record in curating fintech conferences that matter. Our Vietnam series provides a platform for learning, networking, and exploring practical opportunities. We connect regulators, investors, and innovators under one roof.
At World Financial Innovation Series (WFIS) – Vietnam, we focus on clarity, compliance, and collaboration. Our role is not just to showcase data but to help shape the future of fintech Vietnam with trusted insights and a professional network.
Conclusion
Fintech Vietnam, a growing market, is moving from promise to scale. Strong smartphone use, supportive policies, and rising investor interest have built a fast-growing ecosystem that stands out in southeast Asia fintech. While challenges such as regulation, cybersecurity, and talent gaps remain, the potential is clear. With more collaboration and smarter fintech solutions, Vietnam can bridge gaps in access and create new financial opportunities. Platforms like the World Financial Innovation Series (WFIS) – Vietnam add value by bringing data, experts, and regulators together. The future of fintech Vietnam is not only about growth but also about shaping a more inclusive financial system.