FiinGroup proudly presents our latest industry report: Vietnam Credit Card Market Report 2025.

This publication provides a comprehensive review of Vietnam’s evolving credit card market, highlighting key developments in 2024 and early 2025 and offering forward-looking insights into the structural trends shaping its outlook. The transition toward a cashless economy is accelerating, with consumers embracing digital-first financial habits and banks leading the charge in expanding credit card penetration. Supported by rapid infrastructure growth, regulatory initiatives, and shifting consumer behavior, credit cards are emerging as a cornerstone of Vietnam’s digital finance ecosystem.

Key highlights from the report include:

• Credit card adoption accelerating: Debit cards remain dominant in volume, but credit cards are increasingly favored for lifestyle and digital transactions, particularly among urban and tech-savvy consumers.
• Banks solidify leadership: Commercial banks have overtaken finance companies as market leaders, embedding credit cards into digital ecosystems and focusing on long-term customer value, while finance companies are shifting attention toward portfolio risk management.
• Infrastructure enabling growth: Expansion of QR code acceptance and mobile POS devices, already surpassing government targets, has enhanced payment accessibility for both consumers and merchants.
• Network dynamics reshaping competition: NAPAS leads domestic transactions with low fees and strong local integration, while VISA and Mastercard continue to dominate in cross-border and online segments.
• Structural drivers underpin momentum: Government initiatives, fintech innovation, e-commerce growth and rising financial literacy are fueling sustainable long-term growth in Vietnam’s credit card market.

This report answers the following questions:

• What is the current size, growth trajectory, and market share of credit cards in comparison to other circulating payment instruments in Vietnam?
• What are the usage patterns of credit cards, particularly between credit-based purchases and cash advances, and how are they utilized across various acceptance points such as QR codes, POS terminals, mPOS, e-commerce, etc.?
• How quickly is card payment infrastructure expanding, and how do card-based transactions compare with cash usage among Vietnamese consumers?
• What key factors are expected to drive the expansion of the credit card market in the coming years?
• Which major development trends are anticipated to influence future changes in the credit card market?
• What is the competitive landscape among leading credit card issuers in Vietnam?
• From an in-depth perspective, what factors shape the market for bank-issued credit cards versus those offered by FinCos?
• How does the Vietnamese government regulate and support the adoption of cashless payments, especially card transactions, through legal and policy frameworks?