Vietnam's cashless payment surge fuels tourism and consumer spending

Vietnam is experiencing a rapid rise in cashless transactions as international tourism rebounds. In the first five months of 2026, the country welcomed 10.6 million foreign visitors, a 14.9 % increase year‑on‑year, prompting small retailers to adopt cross‑border QR‑code payments to serve tourists more efficiently. Shop owner Anh Hải noted that customers often reduce their purchases or seek other stores when cash‑only options are unavailable.

National payment volumes are also soaring. The State Bank of Vietnam reported about 4.9 billion cash‑less transactions in the first four months of 2024, up 57.1 % from the previous year, with QR‑code transactions jumping 167.2 % in number and 424.5 % in value. The same period saw a surge in online credit‑card applications, driven by eKYC processes that are expected to enable over 35 million payment accounts and 15 million cards by early 2025. Visa’s consumer study found 56 % of Vietnamese now carry less cash, and 89 % of young shoppers regularly use digital payment methods.