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Q&Me is online market research provided by Asia Plus Inc.
Mobile payment usage in Vietnam 2020
Asia Plus Inc.
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.
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
Mobile payment brand awareness & usage
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.
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
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
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
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
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
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
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
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
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
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.
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
Q&Me – About Online Market Research Services
Key highlight - Who we are
Q&Me is the tech-oriented
market research company
We manage all the projects of
both online and offline through
one dedicated platform to provide
the valuable hints to your
business promptly with high
quality
Q&Me is biggest online
research service provider
We own over 500,000
Vietnamese panelist with the
variety of the profiles. With the
proprietary reward and quality
scheme, we deliver the research
results soonest
Proprietary research
platform for superb quality
We have 300 well-trained
fieldworkers nation-wide, who
are connected real-time through
our dedicated app. All the tasks
they conducts are monitored
real-time with automation
Why us - 5 values
With combining the technology with the well-trained humane operations, Q&Me
provides the hint for your business efficiently and effectively
Quality
Trans
parency
Experi
ences
Speed Cost
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.
Our customers
Food & Beverage
FMCG
Manufacturing
Technology
Finance Others
Retail
Q&Me is provided by Asia Plus Inc. https://qandme.net
Contact us:
• Tel: 02839 100 043
• Email: info@qandme.net

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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
  • 4. Mobile payment brand awareness & usage
  • 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
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