Vietnam Prepaid Cards Market Report 2021: Market is Expected to Grow by 30.1% to Reach $3,938.3 Million in 2021 - Market Forecast to 2025
DUBLIN, Nov. 24, 2021 /PRNewswire/ -- The "Vietnam Prepaid Cards Business and Investment Opportunities - Market Size and Forecast (2016-2025), Consumer Attitude & Behaviour, Retail Spend, Market Risk" report has been added to ResearchAndMarkets.com's offering.
According to the Q2 2021 Global Prepaid Card Survey, prepaid card market in the Vietnam is expected to grow by 30.1% on annual basis to reach US$ 3,938.3 million in 2021.The prepaid card market expected to grow over the forecast period, recording a CAGR of 28.2% during 2021-2025. The prepaid card market in Vietnam will increase from US$ 3,028.2 million in 2020 to reach US$ 8,174.4 million by 2025.
In January 2021, MoMo, the leading digital wallet provider in the country, secured US$100 million in its Series D funding round. The prepaid payment instrument is planning to leverage the fund to build a new super app platform and to enhance its ecosystem that is currently serving more than 25 million users. As of September 2021, the firm claims to have 60% of the mobile payments market in Vietnam.
Vietnam is one of the top ten remittance recipient countries in the world. Millions of Vietnamese living and working overseas send billions of dollars back to their home country. For instance, in 2020, Vietnam remained the ninth-largest remittance recipient lobally, with an inflow of more than US$17 billion. With the growing remittance market, cross-border payment providers are partnering with global payments technology companies, such a Visa, to launch real-time cross-border payment solutions. For instance,
In February 2021, MoneyGram International, a cross-border P2P payments platform, entered into a strategic partnership with Visa to launch a real-time peer-to-peer (P2P) payment solution to Vietnam. This collaboration between MoneyGram, Visa, Sacombank, and other banking partners across the country will allow Vietnamese living in other countries to transfer money quickly and securely to Vietnam through Visa Direct.
Vietnam Prepaid Card Industry Market Attractiveness
Market Share Analysis by Functional Attributes - Open Loop vs. Closed Loop, 2016 - 2025
Vietnam Closed Loop Prepaid Card Future Growth Dynamics, 2016 - 2025
Vietnam Prepaid Card Consumer Usage Trends
Vietnam General Purpose Prepaid Card Market Size and Forecast
Gift Card Market Size and Forecast by Consumer Segments
Gift Card Market Share Analysis by Retail Categories
Gift Card Market Share Analysis by Gifting Occasion
Gift Card Market Share Analysis by Purchase Location
Vietnam Entertainment and Gaming Prepaid Card Market Size and Forecast
Business and Administrative Expense Prepaid Card Market Size and Forecast by Consumer Segments
Payroll Prepaid Card Market Size and Forecast by Consumer Segments
Meal Prepaid Card Market Size and Forecast by Consumer Segments
Travel Forex Prepaid Card Market Size and Forecast by Consumer Segments
Vietnam Transit and Tolls Prepaid Card Market Size and Forecast
Vietnam Healthcare and Wellness Prepaid Card Market Size and Forecast
Vietnam Social Security and Other Government Benefit Programs Prepaid Card Market Size and Forecast
Vietnam Fuel Prepaid Cards Market Size and Forecast
Vietnam Utilities, and Other Prepaid Cards Market Size and Forecast
For more information about this report visit https://www.researchandmarkets.com/r/p8zr6k
Research and Markets
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