By 2028, the number of non-cash transactions in Asia-Pacific are set to hit 1.5 trillion, according to Research and Markets. A KPMG report also noted that by 2027, digital wallets are expected to dominate 66 per cent of point-of-sale (POS) transactions in the Asia-Pacific region, up from 50 per cent in 2023.
According to PwC’s study, as more players enter the fray with new business models and the industry becomes increasingly fragmented, the fight to the top becomes more intense. For digital payment services to make a bigger impact, a sharper focus on accessibility, simplicity and affordability is key, while overcoming the trust barrier. Notably, artificial intelligence (AI) is reshaping payments, boosting fraud prevention, credit access, and operations.
In this context, within the framework of the Singapore Fintech Festival (SFF), which runs between November 12-14 in Singapore, Visa on November 12 announced significant strides in expanding Visa Intelligent Commerce across Asia Pacific, accelerating the region’s push into agentic commerce – a new era where AI-powered agents shop and pay on behalf of consumers. Accordingly, AI agents that integrated into familiar platforms will be able to transact using Visa’s 4.8 billion credentials at millions of merchant locations worldwide.
Along with that, Agent Protocol is a cornerstone of Visa Intelligent Commerce. Trusted Agent Protocol enable merchants to recognise and verify trusted AI agents with genuine commerce intent, addressing a key concern as online traffic from AI agents grows.
Over the past year, AI-driven traffic to retail websites has surged over 4,700 per cent, and 85 per cent of shoppers who have used AI to shop say it improved their shopping experience. Looking ahead, Visa plans to launch Visa Intelligent Commerce pilots across Asia Pacific, including Vietnam as regulatory and ecosystem readiness advances, by early 2026.
Mr. Stephen Karpin, President, Asia Pacific, Visa, shared that the majority of users have expressed interest in empowering agents to complete the payment process - as long as trust is ensured.
According to Mr. Karpin, like any technology adoption cycle, there are people have more of an appetite for doing that, while others will follow later, and some may never choose to do that. However, the real power of this transformation lies in trust: if buyers feel confident using Visa Intelligent Commerce, and if merchants can trust that the agents serving their customers are legitimate and reliable, then scaling will happen rapidly.
“Still, trust remains absolutely fundamental,” he added. “Even before widespread rollout, consumers are already showing a strong appetite for this model. Part of it involves ensuring legitimate agents enter the ecosystem, but it also signals a highly disruptive phase for businesses, as when agents are taking over on both sides of the transaction.”
Also in SFF, Visa has gone live with its Visa Scan to Pay solution for QR payments, significantly expanding acceptance across Asia Pacific.
Notably, there are three Vietnamese units to partner with Visa to expand payment choices. Specifically, Visa Scan to Pay is powered by partnerships with bank apps and digital wallets including Samsung Wallet (Asia-Pacific ) LINE Pay [Taiwan (China)], VNPT Money (Vietnam), Woori Card and Hyundai Card (South Korea) and QR payment providers across Asia-Pacific, including Lakala (Mainland China), FOMO Pay (Singapore), VNPAY (Vietnam), NextPay (Vietnam) and OpenRice [Hong Kong (China)].
In Vietnam, according to the State Bank of Vietnam (SBV), in the first nine months of 2025, non-cash payment transactions across the system increased by 43.32 per cent in quantity and 24.23 per cent in value compared to the same period in 2024, showing that the trend of e-payments is becoming more and more popular and sustainable. Notably, transactions via the Internet channel increased by 51.2 per cent in quantity and 37.17 per cent in value; via mobile phones increased by 37.37 per cent in quantity and 21.79 per cent in value; in particular, transactions via QR codes skyrocketed by 61.63 per cent in quantity and 150.67 per cent in value, clearly reflecting the popularity of convenient payments in daily life.
In an interview with VnEconomy / Vietnam Economic Times, Mr. T.R. Ramachandran, Senior Vice President, Head of Products, Asia Pacific, Visa, said that Southeast Asia is absolutely central to this vision as one of the fastest-growing digital economies in the world, and within this region, Vietnam is a strategic priority market of Visa. “It’s not just about the scale, but about the pace of change,” he added. “Vietnam serves as a dynamic environment where we can partner with leading-edge banks and fintechs to develop and deploy our most advanced solutions. In short, Vietnam is not just a recipient of innovation; it is a critical partner in building the very future of payments for Visa and the world.”
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