Unlocking the potential intermediary payment market

FiinGroup is pleased to inform you that we have released the latest insight article “Unlocking the Potential Intermediary Payment Market”. We would like to provide you the key highlights (as below) of this insight article for your reference:

 

FiinGroup is pleased to inform you that we have released the latest insight article “Unlocking the Potential Intermediary Payment Market”. We would like to provide you the key highlights (as below) of this insight article for your reference:

1. The growing acceptance of digital payments by Vietnamese consumers is propelling the dynamic intermediary payment service (IPS) market into prominence. The number of transactions and transaction value through e-wallets has consistently achieved double-digit growth with a CAGR of 80.4% and 83.5%, respectively during the period 2018-2023.
2. Despite robust growth, IPS players are confronted with the challenge of maintaining customer loyalty with the substantial expenses for promotions leading to negative profits for leading players.
3. As of June 2023, the number of IPS providers has surged to 50 companies. The market is crowded but not yet congested due to customer attrition and the market concentration around major players, especially three giants, namely Momo, Shopee Pay, and VNPay.
4. Foreign investors should be mindful of the continuously evolving regulations, particularly as the legal framework for the digital payment sector remains unresolved. The draft of Decree 101 and the long-awaited regulatory sandbox are expected to set out the more apparent legal framework for fintech companies.

For the full insight article, kindly access HERE.

For FiinGroup’s credentials in Financial Services and Insurance sectors, please refer to this HERE.

For further publications on Financial sectors (Banking, Consumer Finance, Insurance,...) and other key sectors in Vietnam (Cold Chain, Water Supply, Plastic Packaging etc. ), please refer to our website: https://fiinresearch.vn

Should you have any inquiries, please do not hesitate to contact us through email: research.support@fiingroup.vn or tel: (84-24) 3562 6962. 

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