👛Vietnam🇻🇳: Visa collaborates with three leading e-wallet applications

👛Vietnam🇻🇳: Visa collaborates with three leading e-wallet applications

The colaboration includes MoMo, VNPAY, and ZaloPay.

➖ This collaboration is aimed at meeting the payment needs of small and medium-sized enterprises (SMEs), which are essential to the Vietnamese economy.

➖ Visa is not falling behind: by the end of 2024, there will be 50 million active e-wallets in Vietnam, which is almost 40% more than last year.

➖ In context: in March, the State Bank of Vietnam (SBV) reported that compared to the same period in 2023, cashless payment transactions in the country increased in volume by 63.3% and in value by 41.45%.

➖ More context: Vietnam's population is 100,195,275 people, and the GDP is 3416 USD (officially they have socialism). However, the smartphone usage rate, which reached 73.5% in 2022 (nearly 72.5 million people), is expected to reach 82.2 million by 2025.

#news #Asia

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