Vietnam sees rapid growth in digital payments and online insurance

Digital transformation is rapidly reshaping consumer behavior in Vietnam, particularly within the financial services and insurance sectors. In the insurance market, there is a growing trend toward purchasing vehicle hull insurance online. While Vietnam entered the digital race later than neighbors like Singapore, Thailand, Malaysia, and Indonesia, the local market is seeing impressive growth as users prioritize speed, transparency, and mobile convenience.

Simultaneously, the broader landscape of digital payments is evolving from physical cards to contactless methods, including smartphones, smartwatches, and QR code scanning. During the 2026 Vietnam Digital Payment Day event, NAPAS Chairman Nguyen Quang Hung noted that technology is simplifying complex transactions, moving the country toward a more integrated digital payment ecosystem.