Fintech Platforms in Vietnam Lose Momentum to Bank Apps
In Vietnam, fintech apps are losing ground to bank-owned apps as traditional financial institutions ramp up their digital efforts. Bank-owned apps are rapidly gaining popularity and outpacing independent fintech platforms like MoMo and ZaloPay.
Change in payments is only getting started
In the 10 years between 2014 and 2024, the trend of how we pay was fully reversed, with the value of over 60% of all e-commerce transactions being digital even though physical cards still dominate at the POS.