GlobalData’s “Payments Landscape in Vietnam: Opportunities and Risks to 2022”, report provides detailed analysis of market trends in the Vietnamese cards and payments industry. It provides values and volumes for a number of key performance indicators in the industry, including payment cards, credit transfers, direct debit, and cheques during the review-period (2014-18e).
The report also analyzes various payment card markets operating in the industry and provides detailed information on the number of cards in circulation, transaction values and volumes during the review-period and over the forecast-period (2018e-22f). It also offers information on the country’s competitive landscape, including market shares of issuers and schemes.
The report brings together GlobalData’s research, modeling, and analysis expertise to allow banks and card issuers to identify segment dynamics and competitive advantages. The report also covers detailed regulatory policies and recent changes in regulatory structure.
This report provides top-level market analysis, information and insights into the Vietnamese cards and payments industry, including-
• Current and forecast values for each market in the Vietnamese cards and payments industry, including debit and credit cards.
• Detailed insights into payment instruments including credit transfers, direct debits, payment cards, and cheques. It also, includes an overview of the country’s key alternative payment instruments.
• E-commerce market analysis and payment methods.
• Analysis of various market drivers and regulations governing the Vietnamese cards and payments industry.
• Detailed analysis of strategies adopted by banks and other institutions to market debit and credit cards.
To increase the scope of banking services, banks in Vietnam are going digital. In June 2017, TPBank partnered with Scale360, a UK-based fintech company, to launch digital branches branded as LiveBank across the country. Unlike a traditional bricks-and-mortar branch, LiveBank is based on mobile and video banking. Customers can open accounts, apply for loans, and perform transactions by themselves or under the guidance of an agent over video. Meanwhile digital-only bank Timo was launched in March 2016. Account holders are offered banking services including a payment account, a savings account, a debit card, a Mastercard Platinum credit card, loans, and money transfers.
Vietnamese banks are supporting growth in the banked population by expanding their services to remote locations. Agribank initiated the mobile van banking project. From January 2018 the bank launched a fleet of 68 mobile banking vans in 62 provinces. The vans can provide the majority of banking products and services, including account opening, debit card issuance, payments and deposits, loan processing, overseas remittances, and insurance.
In November 2017 the State Bank of Vietnam passed new regulations on credit cards, restricting their use for ATMs withdrawals. Cash withdrawals using credit cards were caped at VND5m (USD220.16) in local currency and VND30m (USD1, 320.97) in foreign currency. In January 2013 the central bank passed regulation allowing card issuers to charge a fee of VND 1,000 (USD0.04) per ATM transaction, which rose to VND2,000 (USD0.09) per transaction in 2014 and VND3,000 (USD0.13) per transaction in 2015. These initiatives are expected to reduce consumers’ dependence on cash and promote electronic payments.
Make strategic business decisions, using top-level historic and forecast market data, related to the Vietnamese cards and payments industry and each market within it. Understand the key market trends and growth opportunities in the Vietnamese cards and payments industry. Assess the competitive dynamics in the Vietnamese cards and payments industry. Gain insights into marketing strategies used for various card types in Vietnam. Gain insights into key regulations governing the Vietnamese cards and payments industry.
To know more, click on the link below: https://www.kenresearch.com/banking-financial-services-and-insurance/financial-services/payments-landscape-vietnam/152265-93.html
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