Gen Alpha learns to save early and is used to tapping to pay.

Gen Alpha - the generation born from 2010 onwards, growing up in the digital age - is used to tapping to pay, using spending management apps instead of cash.

Gen Alpha - the generation born from 2010 onwards - is familiar with cashless payments - Photo: TTD

98% of Gen Alpha have at least one type of financial account

A recently released Mastercard report shows that in Vietnam, 98% of Gen Alpha have access to at least one type of financial account, of which 57% have a savings account, 54% have a personal account on an app store with a linked payment method, or an e-wallet (52%).

Research shows that Vietnamese parents are well aware that their children will grow up in a digital financial world where not owning a physical wallet or carrying cash will become common.

Notably, 73% of parents predict their child will probably never use a physical wallet or cash. This generational shift has also created a gap in financial literacy. 75% believe their child is more financially literate than they were at the same age.

61% are unsure if their financial knowledge is relevant to their children's generation. 59% admit their children know more about new payment methods than they do.

Additionally, 81% want more tools to teach children about finances.

"The strong growth of e-wallets, mobile payments and virtual accounts is driving Vietnamese families to seek smart solutions to equip the young generation with a solid foundation for future success.

This is an opportunity for banks and financial institutions to take the lead, providing digital tools that both simplify financial management and help children learn about money," Mastercard said.

Gen Alpha has known how to manage assets from an early age - Source: Mastercard

Cash is no longer a priority for Gen Alpha

Gen Alpha parents in Vietnam show particular interest in features such as financial education content (73%), features that help parents control and manage (58%), realistic simulation content (52%), seamless transfers (49%) and gamified experiences (29%).

Mr. Sandeep Malhotra - Executive Vice President, Core Payments, Asia Pacific , Mastercard - commented that to truly connect with Gen Alpha and their parents, the payment industry needs to understand what this generation wants.

"Gen Alpha grew up with technology and learned to save and spend wisely early. From a young age, they were used to tapping to pay, using spending management apps instead of cash.

Cash is no longer the priority for this generation. Now, everyone prefers Tap & Go. This sends a clear message to banks and financial institutions: Gen Alpha expects a payment experience that suits their lifestyle - seamless, streamlined and integrated from the start," emphasized Sandeep Malhotra.

The results are based on global research conducted by The Harris Poll on behalf of Mastercard, examining consumer behavior, attitudes and preferences toward traditional and modern payment methods.

The study collected opinions from 19,302 consumers across five global regions, including 9,131 in Asia-Pacific, including Australia, China, India, Indonesia, Japan, Malaysia, Singapore, Thailand and Vietnam.

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Source: https://tuoitre.vn/gen-alpha-som-biet-tiet-kiem-quen-voi-viec-cham-de-thanh-toan-20250926215841068.htm