Non-cash payments in Vietnam soared significantly during the first nine months of 2025, with the number of transactions up 43.32% and total value rising 24.23% year-on-year, according to a report from the Government News.
Data from the State Bank of Vietnam (SBV) showed strong growth across all modern payment channels. Internet-based transactions increased 51.2% in volume and 37.17% in value, while mobile phone transactions grew 37.37% in volume and 21.79% in value.
QR code payments recorded the sharpest rise, jumping 61.63% in transaction volume and an impressive 150.67% in value, reflecting their growing popularity for fast and convenient transactions.
The interbank electronic payment systems saw transaction volume expand 4.56% and value soar 46.87%, while the financial switching and electronic clearing systems rose 19.14% in volume and 5.87% in value.
In contrast, ATM transactions declined 16.77% in volume and 5.74% in value, highlighting a clear shift away from cash withdrawals as digital payments become increasingly common.
As of the end of September 2025, Vietnam had more than 10.89 million registered and active Mobile Money accounts, about 70% of which belong to users in rural, mountainous, and remote areas.
The total number of Mobile Money transactions exceeded 290.43 million, with a combined transaction value of approximately VND 8.51 trillion ($323 million), underscoring the growing penetration of digital financial services nationwide.
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