Visa’s report released on September 5 announced its latest research on consumer payment attitudes, which showed that Vietnamese consumers have been increasingly aware and are actively accepting forms of digital banking and digital retail after the Covid-19 pandemic.

The research also revealed promising and innovative digital trends in the future. Consumers were highly interested in digital trends, including: virtual banking, open banking, augmented reality (AR), smart payments, and cryptocurrency. 

Dang Tuyet Dung, Director of Visa Vietnam and Laos, said: “Vietnamese consumers will continue to embrace digital retail methods and platforms for their convenience and intelligence. Based on analysis from Visa research on consumer payment attitudes, our businesses and partners can identify and seize opportunities at golden moments, ensuring that their services are in line with the changing needs of consumers in the future."

The report revealed that 90% of Vietnamese consumers are interested in virtual banking services. At least seven out of every 10 consumers in Vietnam knew about the concept of open banking. The Gen X and Gen Z segments were the most aware of open banking and were willing to share their contact and personal information.

Visa's report pointed out that after the Covid-19 pandemic, besides digital banking, digital retail also marked particularly strong growth. Trends in this field are expected to be popular with Vietnamese consumers in the future.

These trends include augmented reality (AR), which allows consumers to try on, personalize or visualize products through their phone's camera during their online shopping experience. Four out of 5 Vietnamese users knew about the concept of using AR for retail shopping and three out of 10 used this method.

Another digital retail trend of interest is smart payment, which allows consumers to scan items as they select them and create a digital shopping cart to pay without scanning the goods.

Nearly half of Vietnamese consumers, mainly Gen Z, have tried smart payments. Factors that attract the attention of most consumers to this payment method include: speed and convenience, novelty, and the ability to balance the budget.

The report also showed that in the future, Vietnamese consumers expected that nearly 8 out of 10 orders would be delivered to their home. In Southeast Asia, an average of 4 out of 5 consumers in the region (82%) said they would continue to shop online, with the highest percentage in Indonesia (92%) and Vietnam (89%).

Vietnamese consumers were also very interested in a number of digital trends that are predicted to be popular in the future like cryptocurrencies, NFTs and Metaverse.

Thai Khang