Visa Unveils 2025 Payment Trends, Shaping Vietnam’s Digital Landscape
- Written by Visa
The Digital Future Forum highlighted the evolving preferences and behaviors of Vietnamese consumers. Increasingly drawn to international travel, luxury purchases, and digital transactions, Vietnamese consumers are part of a strong trend towards experiential consumption. According to Visa Business and Economic Insights[2] based on VisaNet data, inbound tourist spending on luxury retail in Vietnam has grown by 168% since 2019. Outbound travelers prioritize enriching experiences, reflecting the need for tailored solutions. Vietnam's stable inflation and projected GDP growth of 6.1% in 2024, rising to 6.5% annually from 2025-2030, further strengthen the digital payment landscape.
Dr. Simon Baptist, Principal Economist, Visa Asia Pacific, added: " Vietnam's economy will yet again be one of Asia's fastest-growing in 2025. As international supply chains become more complex, cross-border business will need to be agile. Visa is committed to innovative solutions that support this evolving landscape, helping businesses and consumers thrive in the digital economy."
At the Digital Future Forum, Visa's experts highlighted key trends set to redefine Vietnam's payment landscape by 2025:
1. Real-Time and Account-to-Account Payments: Consumers and businesses demand faster, more efficient payments. Visa Direct[3], a real-time push payments platform, facilitates quick, cost-effective transactions[4] domestically and cross-border, including B2B and P2P payments.
2. Personalized Experiences: Gen Z and Millennials seek personalized experiences. Visa's Personalization Insights, an AI-powered solution, helps businesses create tailored offers and recommendations, driving customer loyalty and boosting conversion rates.
3. Enhanced Security: With the rise of digital payments, security is paramount. Visa's AI-powered[5] Anti-Money Laundering AI enhances fraud detection and prevention, while tokenization[6] reduces fraud risk by replacing sensitive card details with unique tokens.
Ken Wong, Vice President, Head of Data Science, Visa Asia Pacific, said: "AI is crucial in shaping the future of payments in personalization and security. Visa's investment in AI and data infrastructure
aims to meet[7] evolving needs, drive financial inclusion, and foster economic growth in Vietnam."
Visa's Digital Future Forum underscores its commitment to driving Vietnam's digital economy forward. By embracing innovation, expanding personalized and secure payment experiences, and supporting the vision of a digitally connected society, Visa is poised to meet the evolving needs of both businesses and consumers. This strategic approach demonstrates Visa's dedication to fostering growth, enhancing user experiences, and leveraging AI to secure and personalize the future of payments.
https://www.visa.com.vn/en_VN/about-visa/newsroom.html[8]https://www.linkedin.com/company/visa[9]https://www.facebook.com/visavn[10]
Hashtag: #Visa
The issuer is solely responsible for the content of this announcement.
References
- ^ Media OutReach Newswire (www.media-outreach.com)
- ^ Visa Business and Economic Insights (usa.visa.com)
- ^ Visa Direct (corporate.visa.com)
- ^ cost-effective transactions (www.media-outreach.com)
- ^ Visa's AI-powered (usa.visa.com)
- ^ tokenization (www.visa.com.vn)
- ^ aims to meet (corporate.visa.com)
- ^ https://www.visa.com.vn/en_VN/about-visa/newsroom.html (www.visa.com.vn)
- ^ https://www.linkedin.com/company/visa (www.linkedin.com)
- ^ https://www.facebook.com/visavn (www.facebook.com)
Authors: Visa
Read more https://www.media-outreach.com/news/vietnam/2024/12/16/349939/
