Top payment methods in Viet Nam: A guide on best ways to pay
Wondering what the most popular ways to pay are in Viet Nam? Explore the top payment options and choose wisely.
Vietnam, with a population of around 102.16 million people, has a GDP of approximately 490.97 billion making it the 34th largest economy in the world. The official currency of Vietnam is the Vietnamese Dong (VND)
A rapidly growing, export-oriented economy driven by foreign direct investment in manufacturing (electronics, textiles). It is a member of ASEAN, the CPTPP, and RCEP, with deep trade integration with China, the United States, and South Korea.
| Country | Vietnam |
|---|---|
| Population | 102.16 million |
| GDP (USD) | 490.97 billion |
| Global Ranking | 34th |
| Currency | Vietnamese Dong (VND) |
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What is the main payment method in Viet Nam?
Physical cash, the Đồng, remains the dominant payment method for the majority of all transactions in Vietnam. However, e-wallets like Momo and ZaloPay are extremely popular and are used for QR payments, P2P transfers, and a vast range of other services. Bank transfers via the interoperable VietQR standard are also gaining massive traction for their speed and convenience in transferring money directly between bank accounts.
How to pay in Viet Nam
Each country has its own way of moving money, and choosing the right method can sometimes be difficult. That’s why we have curated the most popular and best payment options for you to use in Viet Nam.
| Payment Method | Description | Type |
|---|---|---|
| Wise | Wise provides international money transfer services. It is known for offering transparent, low-cost currency exchange rates and fast transfers. Wise uses the mid-market exchange rate and charges a small, upfront fee, making it a cost-effective alternative to traditional banks for sending money abroad. The platform also offers multi-currency accounts, allowing users to hold and manage money in multiple currencies. | Online/In-person |
| Cash (Vietnamese Đồng) | Cash is the dominant and most deeply entrenched payment method, used for the vast majority of retail transactions across the country. | In-person |
| Bank Transfers (QR Codes) | Bank transfers are extremely popular. It is common to pay for goods online and in-store by scanning a QR code (VietQR) that initiates a fast bank transfer. | Online/In-person |
| Digital Wallets (MoMo, ZaloPay, ShopeePay) | Digital wallets are very popular, especially among the urban youth. MoMo is a market leader, used for P2P transfers, bills, and a wide array of lifestyle services. | Online/In-person |
| Cards (Napas, Visa, Mastercard) | The national card scheme is Napas. Cards are used for e-commerce and at formal retail points, but QR transfers are often preferred. | Online/In-person |
Is PayPal available in Viet Nam?
Yes, PayPal is accepted in Viet Nam.
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Please see terms of use and product availability for your region or visit Wise fees and pricing for the most up to date pricing and fee information.
This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.
We make no representations, warranties or guarantees, whether expressed or implied, that the content in the publication is accurate, complete or up to date.