At the recent “Cashless Day 2025” conference, Mastercard shared a panoramic view of the strong transformation of digital payments in Vietnam, and introduced a series of new initiatives that contribute to promoting cashless, modern and safer spending behavior.
According to data from Mastercard, Vietnam is recording impressive growth in the contactless payment sector, with a compound annual growth rate (CAGR) of 92% between Q4/2022 and Q4/2024.
Mr. Sapan Shah, Senior Vice President, Payment Acceptance Network – Asia Pacific , Mastercard said that this boom is driven by an increasingly modern and secure payment ecosystem with technologies such as Tap to Pay, tokenization, and close coordination between banks, fintechs and payment acceptance units. The State Bank of Vietnam is also playing an important role in leading the digital transformation process in the financial sector.
At the conference, Mastercard introduced three outstanding initiatives in the past year: Together with VPBank , deploying Pay By Account technology, allowing direct payment from bank accounts on the app, without the need for a physical card.
Cooperate with HURC1 to integrate cashless payment into Metro Line 1 in Ho Chi Minh City, helping people just “tap” and go, while supporting international tourists to easily pay with international cards.
Cooperate with NAPAS and banks to launch co-badged cards, allowing seamless and flexible payments domestically and internationally.
Sharing experiences from the region, Mr. Sapan Shah introduced Mastercard's Pay Local solution - helping international travelers use their familiar e-wallet to pay when traveling abroad, without having to carry cash or exchange foreign currency.
By participating in “Cashless Day 2025”, Mastercard reaffirms its commitment to accompany the Government and financial ecosystem in Vietnam in building a sustainable, inclusive and globally connected cashless future.
Source: https://doanhnghiepvn.vn/kinh-te/tai-chinh-ngan-hang/thanh-toan-khong-dung-tien-mat-tai-viet-nam-tang-manh/20250617025342164
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