Vietnam Prepaid Card Market Overview, 2030

The prepaid card market in Vietnam has witnessed significant growth in recent years, driven by the country’s increasing digitalization, growing smartphone penetration, and a shift towards a cashless economy. As one of Southeast Asia’s fastest-developing economies, Vietnam is increasingly embracing digital payment solutions, and prepaid cards are becoming an essential tool for consumers seeking secure, convenient, and flexible financial options. These cards provide a viable alternative to traditional banking products, offering ease of access and financial control to individuals who may not have a bank account or prefer not to use credit cards. Young consumers, students, and freelancers, as well as the unbanked population, are among the primary users of prepaid cards, as they enable seamless transactions for both online and offline purchases. The government’s push for financial inclusion through initiatives like the National Financial Inclusion Strategy has further accelerated the adoption of prepaid cards, as they provide an accessible way for underserved populations to participate in the digital economy. The rapid expansion of e-commerce, online gaming, and subscription-based services in Vietnam has also fueled the demand for prepaid cards, as they allow consumers to make secure payments without the need for a bank account or credit history. Prepaid cards are gaining popularity in retail and hospitality industries, with many retailers offering store-branded and reward-linked prepaid cards to attract and retain customers. Financial institutions and fintech companies are increasingly offering reloadable prepaid cards with features such as multi-currency functionality, contactless payments, and enhanced security measures, making them more attractive to both consumers and businesses. With continued innovation, greater acceptance across sectors, and increasing regulatory support, the prepaid card market in Vietnam is poised for continued expansion, becoming a key component of the country’s digital payment ecosystem.

According to the research report "" Vietnam Prepaid Card Market Overview, 2030,"" published by Bonafide Research, the Vietnam Prepaid Card Market is anticipated to grow at more than 8.91% CAGR from 2025 to 2030. The rise of prepaid cards in Vietnam is closely tied to the country’s rapid adoption of mobile wallets, e-commerce, and online financial services. As more consumers in Vietnam embrace digital banking and cashless transactions, prepaid cards have become an important financial tool for managing day-to-day spending while maintaining control over budgets. Unlike credit or debit cards, prepaid cards do not require users to open a bank account or pass a credit check, making them an accessible option for a wider range of consumers. The popularity of virtual prepaid cards has grown in response to the increasing demand for secure online payments, as they allow users to make purchases on e-commerce platforms, digital entertainment services, and gaming websites without linking to a primary bank account. Furthermore, the integration of prepaid cards with mobile payment solutions such as MoMo, ZaloPay, and VnPay has enhanced their usability, making them a convenient option for users who prefer mobile transactions. Prepaid cards are also gaining traction in the corporate sector, with businesses using them for payroll distribution, employee incentives, and expense management. The convenience of prepaid cards for making payments in public transport systems, such as prepaid metro cards, has also contributed to their adoption in everyday life. The Vietnamese government’s focus on promoting cashless transactions, particularly in urban areas, has created a conducive environment for prepaid cards to thrive. Additionally, the increasing interest in cross-border travel and international e-commerce has spurred demand for prepaid cards with multi-currency features, allowing consumers to make payments in foreign currencies without the hassle of exchange rates or foreign transaction fees.

The prepaid card market in Vietnam is segmented into open-loop and closed-loop prepaid cards, each catering to different financial needs and transactional preferences. Open-loop prepaid cards, which operate on global payment networks such as Visa, Mastercard, and UnionPay, allow users to make purchases at various merchants, withdraw cash from ATMs, and conduct online transactions. These cards are widely used among individuals who seek flexible, secure, and convenient payment solutions without needing a traditional bank account. With Vietnam's growing digital economy and increasing internet penetration, open-loop prepaid cards are becoming essential for e-commerce transactions, travel-related expenses, and international payments. Businesses also use these cards for employee payroll, travel reimbursements, and corporate incentives. On the other hand, closed-loop prepaid cards are restricted to specific merchants, brands, or service providers and are commonly used for retail store purchases, transportation services, entertainment platforms, and food delivery applications. These cards are frequently issued by retailers, ride-hailing services, and mobile payment providers as part of loyalty programs, promotional campaigns, and customer engagement strategies. The increasing adoption of digital wallets and contactless payment technologies in Vietnam has further accelerated the demand for both open-loop and closed-loop prepaid cards, offering consumers enhanced financial accessibility and transaction convenience. As Vietnam transitions towards a more cashless society, prepaid cards are playing a crucial role in expanding financial inclusion and enabling seamless electronic payments.

The prepaid card market in Vietnam is categorized based on application, including general-purpose reloadable (GPR) cards, gift cards, payroll cards, government benefits cards, travel cards, and other specialized prepaid financial products. General-purpose reloadable (GPR) cards are among the most widely used prepaid financial tools in Vietnam, enabling users to reload funds as needed and make payments at physical stores, online merchants, and ATMs. These cards are particularly beneficial for individuals who lack access to traditional banking services but seek a secure and flexible payment alternative. Gift cards, issued by retailers, e-commerce platforms, and entertainment providers, are highly popular for personal gifting and promotional campaigns. Businesses leverage gift cards to attract customers, increase brand loyalty, and enhance sales. Payroll cards are extensively utilized by Vietnamese businesses to streamline salary disbursements, especially for unbanked employees, gig workers, and freelancers. These cards reduce payroll processing complexities and ensure secure fund transfers. Government benefits cards play a crucial role in Vietnam’s social welfare system, facilitating the distribution of pensions, subsidies, and financial aid to eligible beneficiaries while minimizing cash handling risks. Travel prepaid cards cater to domestic and international travelers, offering a secure and reloadable payment option for airfare, accommodation, and foreign currency transactions. Additionally, specialized prepaid cards, such as fuel cards, education cards, and healthcare prepaid cards, are gaining traction, catering to specific financial needs in various sectors. The growing adoption of prepaid cards across multiple applications reflects Vietnam’s evolving financial ecosystem and the increasing demand for cashless payment solutions.

The prepaid card market in Vietnam serves a diverse range of end users, including retail consumers, corporate businesses, and government and public sector institutions. Retail consumers represent the largest user base, relying on prepaid cards for everyday expenses, online shopping, bill payments, transportation, and entertainment. Many individuals prefer prepaid cards as they offer financial control, security, and ease of use, especially for those without access to traditional banking services. Corporate businesses leverage prepaid cards for payroll processing, business travel expenses, corporate rewards, and employee meal vouchers, allowing for efficient financial management and expense tracking. Employers find prepaid cards beneficial in managing corporate spending while offering employees a flexible and convenient payment method. Government and public sector institutions use prepaid cards for distributing social welfare benefits, pension payments, tax refunds, and financial aid programs. These cards ensure that government disbursements reach beneficiaries securely and efficiently while reducing dependency on cash transactions. In addition to facilitating financial inclusivity, prepaid cards enhance transparency in fund distribution and financial management. The increasing adoption of prepaid cards among various end-user segments in Vietnam underscores their role as a versatile and efficient financial tool that caters to different transactional needs. The continued expansion of prepaid card services in Vietnam is contributing to the modernization of the country's financial infrastructure and promoting the adoption of digital payments.

Vietnam’s prepaid card market is classified by usage into single-use and multi-use prepaid cards, with each category fulfilling different financial purposes. Single-use prepaid cards are predominantly used for gift cards, promotional campaigns, and incentive-based transactions. Retailers, e-commerce platforms, and entertainment providers distribute these cards as part of their customer engagement strategies, enabling recipients to make purchases up to the preloaded value. Many businesses also utilize single-use prepaid cards for employee rewards, cashback incentives, and event-based giveaways. In contrast, multi-use prepaid cards are reloadable and offer greater financial flexibility, making them ideal for salary payments, travel expenses, and ongoing personal or business transactions. These cards are increasingly favored by Vietnamese consumers who prefer a reusable and secure payment solution for their financial needs. Multi-use prepaid cards are particularly popular among expatriates, gig workers, and small business owners who require a practical and cost-effective alternative to conventional banking services. Additionally, government agencies and non-profit organizations issue multi-use prepaid cards for distributing financial aid, emergency funds, and educational stipends, ensuring seamless access to necessary resources. The demand for both single-use and multi-use prepaid cards is rising in Vietnam, driven by the country’s growing digital economy, fintech innovations, and the increasing adoption of electronic payment solutions. As prepaid card usage expands across different sectors, these financial products continue to offer practical and inclusive payment options to Vietnamese consumers and businesses.

Prepaid cards in Vietnam are distributed through multiple channels, including banking institutions, retail stores, and online platforms, ensuring widespread accessibility across urban and rural areas. Banking institutions play a pivotal role in issuing prepaid cards, particularly open-loop prepaid cards linked to major payment networks. Many banks offer prepaid cards as a financial tool for customers who do not meet the criteria for credit cards, providing them with an alternative means of digital transactions. Retail stores also serve as a key distribution channel, with prepaid cards available at supermarkets, department stores, and convenience outlets. Retailers frequently issue prepaid cards with loyalty rewards, cashback offers, and promotional benefits to enhance customer retention and sales. Online platforms have gained significant traction in Vietnam’s prepaid card market, with fintech companies and digital payment providers offering virtual prepaid cards for e-commerce transactions, digital subscriptions, and mobile wallet integration. The rapid expansion of Vietnam’s e-commerce and mobile payment ecosystem has further propelled the demand for online prepaid card distribution, allowing consumers to access financial services conveniently. With Vietnam transitioning towards a more digitally connected financial system, the expansion of prepaid card distribution channels continues to drive financial inclusivity and convenience, reinforcing the country’s shift towards a modernized, cashless economy. The integration of prepaid card services across banking, retail, and digital platforms is playing a crucial role in shaping Vietnam’s evolving financial landscape, offering users seamless and secure payment solutions tailored to their diverse needs.


Considered in this report
• Historic Year: 2019
• Base year: 2024
• Estimated year: 2025
• Forecast year: 2030

Aspects covered in this report
• Prepaid Card Market with its value and forecast along with its segments
• Various drivers and challenges
• On-going trends and developments
• Top profiled companies
• Strategic recommendation

By Card Type
• Open-Loop Prepaid Cards
• Closed-Loop Prepaid Cards

By Application
• General-Purpose Reloadable (GPR) Cards
• Gift Cards
• Payroll Cards
• Government Benefits Cards
• Travel Cards
• Others

By End User
• Retail Consumers
• Corporate & Businesses
• Government & Public Sector

By Usage
• Single-Use Prepaid Cards
• Multi-Use Prepaid Cards

By Distribution Channel
• Banking Institutions
• Retail Stores
• Online Platforms

The approach of the report:
This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third-party sources such as press releases, annual report of companies, analyzing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources.

Intended audience
This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to agriculture industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry.