Vietnam witnessed the boom of mobile payment in recent years. The government also discourages the use of cash through their official notification and more than that, 60% of the population is the young generation (below 35) who is described as digital and tech-savvy, with an interest in discovering new products and catching up with digital trends also make this business become a fast growing market than ever.
This survey was conducted in Sep 2020 amongst those who currently use at mobile payment to have a better understanding on usage & attitude towards mobile payment in Vietnam.
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Vietnam mobile payment 2020
1. Q&Me is online market research provided by Asia Plus Inc.
Mobile payment usage in Vietnam 2020
Asia Plus Inc.
2. Objective
Vietnam witnessed the boom of mobile payment in
recent years. The government also discourages
the use of cash through their official notification
and more than that, 60% of the population is the
young generation (below 35) who is described as
digital and tech-savvy, with an interest in
discovering new products and catching up with
digital trends also make this business become a
fast growing market than ever.
This survey was conducted in Sep 2020 amongst
those who currently use at mobile payment to
have a better understanding on usage & attitude
towards mobile payment in Vietnam.
3. Target customer (N=700)
14%
60%
8%
11%
7%
Student
Full-time employee
Part-time employee
Self-employed/ Business owner
Others
41%
27%
31%
51%49% 35%
48%
17%HCM
Ha Noi
Others
Female Male
26-35
18-25
36-65
49%
45%
4%
Single
Married with children
Married without children
Divorced/ Separate
Location Gender Age
Marital status Occupations HH Income
5%
12%
21%
25%
20%
17%
Below 3.5 mil 3.5 - 7 mil
7 - 14 mil 14 - 20 mil
20 - 30 mil Above 30 mil
5. TOP-OF-MIND
73%
6%
6%
4%
12%
Momo Viettelpay Airpay Zalopay Others
Q. Which Brand of mobile payment that you think of as TOM, N=700
Q. Please choose all the mobile payment brands that you know, N=700
Momo is the dominant player in the market, as
73% has raised the brand as top-of-mind. What
follows are Viettelpay, Airpay and Zalopay.
6. 95%
71%
73%
60%
37%
46%
27%
97%
85%
76%
59%
43%
37%
22%
By city
HCM
Ha Noi
BRAND AWARENESS
DEEP DIVE BY GENDER & LOCATION
94%
77%
67%
42%
31%
27%
18%
95%
74%
76%
64%
39%
40%
24%
MoMo
Viettelpay
Zalopay
Airpay
Vnpay
Moca
Samsungpay
By gender
Male
Female
Momo mobile payment win in both genders &
cities, however Viettelpay position is driven by
Hanoian and Zalopay & Airpay gain points due
to the support of Female
Q. Please choose all the mobile payment brands that you know, N=700
7. USAGE FUNNEL
Momo stands still in the top position with highest share and Viettelpay follow with big gap. Airpay’s
key needed task is to enhance the base of awareness. Zalopay is well recalled (71% awareness)
but failed to keep users stay with their service (Only 6% used most often with conversion rate 22%)
Most often usage
Current Usage
Ever tried
Total Awareness
61
79
87
94
12
26
32
53
15
32
47
76
6
25
38
72
78%
90%
92%
48%
68%
62%
47%
79%
61%
22%
67%
53%
Q. Please choose all the mobile payment brands that you know, N=700
Q. Which mobile payment brands you have ever tried, N=700
Q. Which mobile payment brands you are using, N=700
Q. Which mobile payment brand that you currently use most often, N=700
8. 42% HCM
25% Ha Noi
33% Other cities
28% HCM
32% Ha Noi
40% Other cities
41% HCM
23% Ha Noi
36% Other cities
80% Phone top -up
68% Money transfer
63% Online payment
74% Money transfer
69% Phone top -up
56% Online payment
95% Phone top -up
56% Money transfer
56% Online payment
55% Male
45% Female
63% Male
37% Female
46% Male
54% Female
By
gender
By city
Usage type
50% HCM
38% Ha Noi
12% Other cities
92% Online payment
77% Phone top -up
56% Money transfer
23% Male
77% Female
Q. Which mobile payment brand that you currently use most often? (BUMO), N=700
Momo: 430 Viettelpay: 108 Airpay: 84 Zalopay: 39
BRAND POPULARITY BY PROFILE
Momo and Viettel pay are most often used by Male while Airpay & Zalopay are for Female
Momo & Zalo top type is Phone top-up meanwhile users use Viettepay for Money transfer and Airpay
for Online payment (Shopping/ Food delivery…)
DEEP DIVE BY GENDER & LOCATION & TRANSACTION TYPE
9. Motivations & Preferred promotion in using mobile
paymentThe most reasons that people are using mobile payment is that It’s convenient and has promotion.
In particular for promotion, top attractions factors are Cashback, Point accumulation and Discount
% based on transaction amount
59% Convenient
40% Promotions
33%
Can pay for different
services & products
33% Low/Zero fee
29%
Payment process is faster
than other services
29% Safety & High security
66% Cashback
49% Point accumulation
46%
Discount as % of
transaction amount
38% Discount with fix amount
28%
Vouchers at partnership
service
16% Event/campaign in app
Q. Please choose your top 3 motivations to use mobile payment, N=700
Q. Which promotions do you prefer for mobile payment? Please choose maximum 3 offers, N=700
Motivations Preferred Promotions
10. USAGE FREQUENCY
23%
29%
27%
10%
7%
5%
Almost every day 3--4 times / week 1-2 times / week
Once / 2-3 weeks Once / month Rarely use
Nearly a quarter of users use mobile payment
almost everyday (23%) and 29% of users also
have high frequency (3-4 times/week)
Q. How often do you use mobile payment, N=700
11. BRAND IN REPERTOIRE
Around 50% users in HCM & Hanoi are single mobile payment users and it is 67% in other cities,
indicates that Saigonese & Hanoian tend to use more multiple mobile payments than other
locations
Q. Which mobile payment brands you are using, N=700
53%
24%
13%
13%
Average
1.8
brands
44%
25%
16%
15%
53%
23%
14%
10%
Average
2.1
brands
Average
1.9
brands
67%
21%
8%4%
Average
1.5
brands
HCM HANOI OTHERS
TOTAL
12. POPULAR USAGE
mobile payment is used most often for Mobile phone
top-up, followed up by Money transfer & Online
payment.
Q. Which type of transaction that you use mobile payment, N=700
78%
66%
64%
46%
25%
22%
20%
15%
Mobile top-up / card
Money transfer
Online payment
Monthly bills
Supermarket
Ride sharing service
Coffee shop & Restaurant
Other offline occasions
13. AVERAGE AMOUNT FOR TRANSACTION
mobile payment users spend different amount for different transaction categories. 77% of users
top up their mobile phone at average amount < 200k VND, 73% of them pay for online transaction
with average amount < 300k VND. For Money transfer, the amount is wide range recorded
Mobile phone top-up Money transfer Online payment
47%
30%
10%
7%
4%
12%
17%
14%
20%
18%
19%
11%
29%
22%
22%
10%
5%
Q. Please tell us the average amount you spend of each transaction type, N=700
Mobile phone top-up: 544 Money transfer: 465 Online payment: 446
14. BRAND ASSOCIATION
All brands are not clearly defined in term of “Brand association attributes”. Momo tends to get higher
scores versus the others especially Friendly UX & Wide range of payment category. However the
gap is not big enough to create a different image vs. others
Q. Now we would like you to evaluate each brand you are using currently. The score is from 1 to 5 which show your
agreement to our statements. 5 is completely agree with our statements and 1 is Completely disagree with that
Momo: 550 Viettelpay: 226 Airpay: 179 Zalopay: 177
81%
81%
80%
79%
76%
71%
71%
69%
65%
Competitive fee
A variety of usage
Good offer for membership
Fast payment process
Safe and high security
Many promotions
Friendly UX
Many campaign
Simple payment process
72%
76%
77%
70%
80%
61%
62%
62%
68%
84%
77%
83%
74%
66%
75%
68%
69%
67%
77%
73%
76%
71%
75%
63%
58%
60%
65%
Momo Viettelpay Airpay Zalopay
15. Key takeaway (1): Mobile payment usages
Popular brands
Momo is the dominant player in market.
This brand achieves 73% Top-of-Mind,
94% Total awareness and is used most
often by 61% of users. What follows
are Viettelpay, Airpay and Zalopay.
Most often usage
Current Usage
Ever tried
Total Awareness
61
79
87
94
MOMO KPI summary
Brand preference by profile
While Momo is dominant in the market.
AirPay is popular for those who use
online shoppings while Zalo attract
female for their friendliness with chat
integration. Viettelpay is popular among
north for their regional sales /
marketing strength
Service images
Cost, service versatility, membership
benefits are the 3 items that users
consider for the brand selections.
Viettel has the strong security / trust
images while Airpay is federated with
good benefits.
16. Key takeaway (2): Mobile payment usages
Popular promotions
Promotions are one of the strongest
factors that triggers the usage of
mobile payment. Top preferred
promotions are Cashback (66%), Point
accumulation (49%) and Discount %
based on transaction amount (46%)
Motivations to use mobile
payment
The highest motivation to use mobile
payment is convenience (59%) and
promotion (40%). The monetary benefit
pushes the users to realize the
convenience of the services.
Usage
The top usages are top-up and money
transfer. The transaction amount is
limited, as half of money transfer even
is less than 300K VND. The service
has the uniqueness of supporting non-
cash culture for small amount
18. Key highlight - Who we are
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20. Our Quality - 3rd party evaluations
Our quality has been proven in the market. We provide high quality solution
with speed, via our technology oriented solutons.
FACT CONSISTENCY SCORE
97%
THOUGHT
CONSISTENCY SCORE
91%
STRAIGHT-LINER/ FLAT-
LINER SCORE
89%
SPEEDERS SCORE
97%
QUALITY CHECK SURVEY SPECIFICATION
N (Sample size) 300
IR (Incident rate) 100%
LOI (Lenght of Interview) 10 minutes
Success Criteria Overral score of 80% or higher
THE RESULTS
Overal score 93.5%
Average score
in the industry
73%
(*) QC scores are generated by Survey Sampling International (SSI), the Worldwide Leader in Survey Sampling and Data Collection
Solutions. Asia Plus (Q&Me) is the preferred partner of SSI in Vietnam.