Mobile payment usage in Vietnam 2020

Q&Me is online market research provided by Asia Plus Inc. 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)
Location Gender Age

36-65
Others HCM 17%
31% Female Male 18-25
41% 35%
49% 51%
26-35
27% 48%
Ha Noi

Marital status Occupations HH Income

4% 7% 14% 5%
11% 17% 12%
8%
49% 20%
45% 21%
60%
25%
Student
Single Below 3.5 mil 3.5 - 7 mil
Full-time employee
Married with children Part-time employee 7 - 14 mil 14 - 20 mil
Married without children Self-employed/ Business owner 20 - 30 mil Above 30 mil
Divorced/ Separate Others
Mobile payment brand awareness & usage
 TOP-OF-MIND
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.

12%

4%
6%

6%

73%

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
 BRAND AWARENESS
DEEP DIVE BY GENDER & LOCATION

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

By gender By city

94% 95%
MoMo 95% 97%
77% 71%
Viettelpay 74% 85%
67% 73%
Zalopay 76% 76%
42% 60%
Airpay 64% 59%
31% 37%
Vnpay 39% 43%
27% 46%
Moca 40% 37%
Male HCM
18% 27%
Samsungpay 24% Female 22% Ha Noi

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 61 15 12 6

78% 48% 47% 22%
Current Usage 79 32 26 25
90% 68% 79% 67%
Ever tried 87 47 32 38
92% 62% 61% 53%
Total Awareness 94 76 53 72

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
 BRAND POPULARITY BY PROFILE
DEEP DIVE BY GENDER & LOCATION & TRANSACTION TYPE

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…)

55% Male 63% Male 23% Male 46% Male

By
gender 45% Female 37% Female 77% Female 54% Female
42% HCM 28% HCM 50% HCM 41% HCM
By city 25% Ha Noi 32% Ha Noi 38% Ha Noi 23% Ha Noi
33% Other cities 40% Other cities 12% Other cities 36% Other cities

Usage type 80% Phone top -up 74% Money transfer 92% Online payment 95% Phone top -up
68% Money transfer 69% Phone top -up 77% Phone top -up 56% Money transfer
63% Online payment 56% Online payment 56% Money transfer 56% Online payment

Q. Which mobile payment brand that you currently use most often? (BUMO), N=700
Momo: 430 Viettelpay: 108 Airpay: 84 Zalopay: 39
 Motivations & Preferred promotion in using mobile
payment
The 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

Motivations Preferred Promotions

59% Convenient 66% Cashback

40% Promotions 49% Point accumulation

Can pay for different Discount as % of
33% 46%
services & products transaction amount
33% Low/Zero fee 38% Discount with fix amount
Payment process is faster Vouchers at partnership
29% 28%
than other services service
29% Safety & High security 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
 USAGE FREQUENCY
Nearly a quarter of users use mobile payment
almost everyday (23%) and 29% of users also
have high frequency (3-4 times/week)

5%
7%
23%
10%

27%
29%

Almost every day 3--4 times / week 1-2 times / week

Once / 2-3 weeks Once / month Rarely use

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
TOTAL

HCM HANOI OTHERS

13%

15% 10% 8%4%

13%
Average Average
14%
Average Average
1.8 16% 44% 21%
53% 2.1 1.9 53% 1.5
brands brands brands brands
23% 67%
24% 25%

Q. Which mobile payment brands you are using, N=700

 POPULAR USAGE
mobile payment is used most often for Mobile phone
top-up, followed up by Money transfer & Online
payment.
Other offline occasions 15%

Coffee shop & Restaurant 20%

Ride sharing service 22%

Supermarket 25%

Monthly bills 46%

Online payment 64%

Money transfer 66%

Mobile top-up / card 78%

Q. Which type of transaction that you use mobile payment, N=700

 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

4% 5%
11%
7% 19% 12% 10%
10%
17%
47% 29%
18% 22%

30% 14%
20% 22%

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
Momo Viettelpay Airpay Zalopay

Simple payment process 65% 68% 67% 65%

Many campaign 69% 62% 69% 60%

Friendly UX 71% 62% 68% 58%

Many promotions 71% 61% 75% 63%

Safe and high security 76% 80% 66% 75%

Fast payment process 79% 70% 74% 71%

Good offer for membership 80% 77% 83% 76%

A variety of usage 81% 76% 77% 73%

Competitive fee 81% 72% 84% 77%

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
 Key takeaway (1): Mobile payment usages
Popular brands Brand preference by profile Service images

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.
MOMO KPI summary
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
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.

Most often usage 61

Current Usage 79

Ever tried 87

Total Awareness 94
 Key takeaway (2): Mobile payment usages
Motivations to use mobile Popular promotions Usage
payment
The highest motivation to use mobile Promotions are one of the strongest The top usages are top-up and money
payment is convenience (59%) and factors that triggers the usage of transfer. The transaction amount is
promotion (40%). The monetary benefit mobile payment. Top preferred limited, as half of money transfer even
pushes the users to realize the promotions are Cashback (66%), Point is less than 300K VND. The service
convenience of the services. accumulation (49%) and Discount % has the uniqueness of supporting non-
based on transaction amount (46%) 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

Trans Experi
Quality Speed Cost
parency ences
 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.

QUALITY CHECK SURVEY SPECIFICATION

N (Sample size) 300
IR (Incident rate) 100%
97% 91%
LOI (Lenght of Interview) 10 minutes

Success Criteria Overral score of 80% or higher

FACT CONSISTENCY SCORE THOUGHT
CONSISTENCY SCORE

THE RESULTS

89% 97% Overal score 93.5%

Average score 73%
in the industry
STRAIGHT-LINER/ FLAT- SPEEDERS SCORE
LINER SCORE

(*) 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 Manufacturing Finance Others

FMCG Technology Retail

Q&Me is provided by Asia Plus Inc. https://qandme.net
Contact us:
• Tel: 02839 100 043
• Email: info@qandme.net