Top collection platforms that support payments in Vietnam

Below is a ranking of the leading payment collection platforms in Vietnam, evaluated on a comprehensive basis based on dimensions such as market share, user base, localisation and functional support (data updated to 2023):

1. Indigenous-led platforms

(1) MoMo (Mobile Money)

  • market position: Vietnam's largest e-wallet with over 30 million users
  • specificities::
    ✅ Support code payment, utility bill payment, mobile phone recharge
    ✅ Direct connection with 20+ banks, covering 90% convenience stores offline
    ⚠️ Local Vietnam bank card required

(2) ZaloPay

  • contexts: Payment tool under social giant Zalo (similar to WeChat Pay)
  • cutting edge::
    ✅ Deep integration of Zalo social scenarios (money transfers/red envelopes)
    ✅ QR Code Cross-border Payment Collection (partially supported by China merchants)

(3) ViettelPay

  • parent companies: Viettel, Vietnam's largest telecoms operator
  • Applicable Scenarios: Charge top-ups, game cards, high penetration rate in rural areas

2. International payment platforms

(4) PayPal

  • site coverage: Preferred for cross-border e-commerce, but with higher handling fee (4.4% + fixed fee)
  • constraint: Withdrawal of cash through Vietnamese banks (e.g. TPBank, ACB)

(5) Stripe

  • make headway: Entering the Vietnam test phase in 2023

3. Banking and gateway services

(6) VNPAY

  • locate: Enterprise-level payment solutions (Alipay-like B-side services)
  • functionality::
    ✅ Support internet banking transfer, credit card instalment, cross-border settlement (commonly used in Sino-Vietnamese trade)
    ⚠️ requires business registration and cannot be used directly by individual users

(7) OnePay & Payoo

  • contexts: Payment gateway launched by an alliance of two Vietnamese banks
  • Applicable Scenarios: E-commerce platform integration (e.g. Shopee, Tiki), support for international cards Visa/Mastercard

4. Emerging and cross-border dedicated platforms

(8) Airwallex (空中云汇)

  • cutting edge: Designed for cross-border e-commerce, supports multi-currency collection (USD/VND/CNY)
  • tariff: 0.5%-1.2%, lower than PayPal

(9) Wise (formerly TransferWise)

  • specificities: The first choice for small cross-border remittances for SMEs, with transparent exchange rates
  • constraint:: Single transaction limit of US$50,000, subject to transit by Vietnam Co-operative Banks

📊 Vietnam Payments Market Share Reference, 2023

rankings Platform name typology Active users (approx.) Main usage scenarios
1 MoMo electronic wallet (e.g. for money) 30 million + Offline retail/P2P transfers
2 ZaloPay social payment 20 million + Social bonus/online spending
3 VNPAY Enterprise Gateway – B2B/Utilities Payment
PayPal International payments – Cross-border e-commerce collections

⚠️ Notes:

  1. compliance requirement: Foreign businesses are required to apply for a Non-Resident Merchant Licence to collect money in Vietnam (some platforms can do this on their behalf).
  2. Handling Fee Comparison: Local wallet rates are typically ≤1%, international platforms are generally >3%.
  3. withdrawal cycle: It takes 1 working day for MoMo/ZaloPay to withdraw cash to your bank card, and 3~5 days for cross-border arrivals.

If industry-specific (e.g. gaming, e-commerce) solutions or licence application details are required, further clarification can be added!