Backbase report: Mobile transactions in Vietnam to grow 400 pct. by 2025
Mobile transactions in Vietnam are forecast to increase by 400 percent by 2025 in the Fintech and Digital Banking 2025 - Asia Pacific Report released by Backbase on May 11.
Mobile transactions in Vietnam are predicted to grow fast in the near future (Photo: CellphoneS)
Singapore (VNA) - Mobile transactions in Vietnam are forecast toincrease by 400 percent by 2025 in the Fintech and Digital Banking 2025 - AsiaPacific Report released by Backbase on May 11.
The report also noted that 25 percent of banks in Vietnam will activelypursue modern digital core platforms, while the top eight banks will useintelligent automation in account origination, with 50 percent growth in newaccounts.
Riddhi Dutta, Regional Sales Head for ASEAN & India at Backbase,said that banks in Vietnam are pouring capital into digital platforms to boostgrowth.
Small banks, he predicted, will gain more success in digital banking.
The State Bank of Vietnam has played an important role in thedevelopment of fintech companies and the digital banking sector, with thenumber of fintech firms increasing from 40 to 150 over the past four years.
Dutta said the central bank has built a specific plan of action to carryout the banking development strategy by 2025, which focuses on intensifyingnon-cash payments.
He also hailed the bank’s efforts to improve the quality of humanresources in the banking sector.
Backbase provides the leading digital-first banking platform thatempowers banks and other financial institutions to accelerate their digitaltransformation./.
The banking sector has recorded many important hallmarks in 2019, especially the adjustment of a series of policies to help stabilise credit institutions.
Banks in Vietnam posted solid profit growth and asset quality improvements in 2019, benefitting from the country's robust macro-economic environment, Moody's Investors Service said.
The Fourth Industrial Revolution (Industry 4.0) has a great impact on the human resources of the banking sector, according to the general director of Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
The Vietnam Maritime Commercial Joint Stock Bank (MSB) said it has completed the second pillar of Basel II standards that is supervisory review nearly one year ahead of the schedule set by the State Bank of Vietnam.
Governor of the State Bank of Vietnam (SBV) Le Minh Hung has called on commercial banks to urgently simplify lending procedures to help COVID-19-affected firms easily access preferential interest rate loans.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
Mobile transactions in Vietnam are predicted to grow fast in the near future (Photo: CellphoneS) 
