Digital Payment Today - Vietnam's Fintech Boom: A Cashless Future Emerges

The digital payment sector in Vietnam is undergoing a significant transformation, underpinned by rapid adoption of mobile wallets and digital payment solutions. This growth is driven by a tech-savvy youth demographic, increased smartphone and internet penetration, and a push towards a cashless society. The Vietnam fintech market, valued at USD 15.67 billion in 2024, is projected to reach over USD 50 billion by 2030, with payments via internet and mobile channels showing substantial growth rates in recent years. However, challenges such as regulatory ambiguities and the need for comprehensive legal frameworks for fintech remain obstacles to the full realization of the sector's potential.

• Commercial Bank for Foreign Trade of Vietnam (HOSE:VCB) last closed at ₫63,600 down 1.5%.
• Vietnam Commercial Bank for Industry and Trade (HOSE:CTG) last closed at ₫49,100 down 3.5%.
• Vietnam Technological and Commercial Bank (HOSE:TCB) last closed at ₫37,550 down 3.7%.
• Commercial Bank for Investment and Development of Vietnam (HOSE:BID) last closed at ₫41,000 down 5.2%.
• Vietnam Prosperity Commercial Bank (HOSE:VPB) last closed at ₫33,500 down 6.8%.

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Elsewhere in the market, SoFi Technologies (NasdaqGS:SOFI) was a standout up 7.2% and closing at $25.02, hovering around its 52-week high.

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• PayPal Holdings (NasdaqGS:PYPL) settled at $69.90 up 3.5%.
• Nu Holdings (NYSE:NU) finished trading at $13.94 up 2%.
• Visa (NYSE:V) closed at $350.04 up 1.8%.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

Sources:

• Simply Wall St
• "Vietnam Fintech Market Worth Over USD 50 Billion by 2030, Rising at 21.48% CAGR: Insights Into Competitive Dynamics, Emerging Trends and Regulatory Challenges" from Research and Markets on GlobeNewswire (published 19 August 2025)

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