return icon Vietnamnet.vn

Vietnamese interested in metaverse and fintech

According to a recent report by Meta and Bain & Company, Vietnam is among the top 3 countries besides Indonesia and the Philippines to adopt new technologies such as fintech and metaverse.

Vietnam's fintech market is said to have many prospects and is also an area that is attracting large investment capital. 

 


“Seven out of 10 digital consumers in Vietnam have used technology of the metaverse (cryptocurrency, augmented reality/virtual reality, virtual world and NFT) in 2022. In particular, Vietnam has the highest rate of virtual reality adoption among Southeast Asian countries with 29%,” the report said.

Meanwhile, 58% of digital consumers in Vietnam will have used fintech solutions (online banking, e-wallets, money transfer apps, omnipotent digital banking) in 2022. 

Previous reports also show that Vietnamese fintech is catching up with the world's development and is in the leading group in the region.

According to Google, 2021 saw the great development of Vietnam's fintech market, when the Internet economy reached a value of 21 billion USD, ranks 70th in the world and 14th out of 50 economies in Asia. 

According to analysts from Robocash, Vietnam's fintech market has the second fastest growth rate in the region, after Singapore with revenue expected to reach 18 billion USD by 2024.

Transaction volume increased 152.8% since 2016, with 29.5 million new fintech users. In fact, the increase in the number of fintech users means that Vietnamese use at least one fintech service every second. 

Analysts also pointed out that the demand for digital services (transactions, payments and wallets) of Vietnamese is remarkable.

Vietnam's fintech market is said to have many prospects and is also an area that is attracting large investment capital. About 93% of venture capital investments in the country are directed to the e-wallet and cryptocurrency segment. Since 2016, the total number of fintech companies in Vietnam has increased by 84.5%.
 
Duy Vu

MORE NEWS

US war veteran wishing to return wartime diary to Vietnamese family

Pater Mathews, a US war veteran, has emailed relevant agencies of Ha Tinh province, central Vietnam, expressing his desire to fly to Vietnam and return a Vietnamese martyr’s diary he came across decades ago to the martyr’s family.

VIETNAM BUSINESS NEWS FEBRUARY 8/2023

January payment transactions via national public service portal valued at 11.8 mln USD

Vietnam needs new products, services to reach tourism targets

To realise the targets of attracting 110 million tourists and earning some 650 trillion VND (27.5 billion USD) in revenue this year, Vietnam is recommended to develop more products and services to offer new experiences to visitors.

PM Chinh’s Singapore visit expected to advance bilateral trade ties

Prime Minister Pham Minh Chinh’s Singapore visit from February 8-10 aims to affirm the determination to elevate the bilateral economic ties to a new height in the context of many free trade agreement (FTAs) coming into force.

VN to force retailers to generate e-invoices from cash registers

When the technical infrastructure and capacity were upgraded to meet the demand, the regulations about issuing e-invoices from cash registers must then be made compulsory together with the introduction of punishments for violations.

Festivals back in cities and provinces across the country

After a three-year hiatus due to the COVID-19 pandemic, festivals are back in many cities and provinces across the country, attracting thousands of tourists.

600-year-old bell: national treasure of Vietnam

A bell at the Roi pagoda in the central province of Ha Tinh has been recognized as a national treasure.

VN labor market bounces back

Vietnam’s labor market has improved, sending goods news to workers being laid off in the final quarter of last year due to a shortfall of new orders faced by their companies.

MOT seeks contractor for VND35 trillion package for Long Thanh Airport project

A contractor to execute bid package No 5.10 worth VND35 trillion for the Long Thanh International Airport project is expected to be found in March.

Appropriate foreign ownership limit at banks expected to attract investment

Foreign ownership limits at credit institutions were expected to be raised to an appropriate level to attract foreign investment, which plays an important role in improving operational efficiency and accelerating the banking sector's restructuring.

Apple changes pricing strategy for iPhone 14 in Vietnam

Instead of adjusting prices of iPhone 14 in June as it did with iPhone generations in previous years, Apple has unexpectedly lowered the selling prices of the model.

Tech lay-off wave continues to bite at Vietnam’s heels

With major tech giants around the world letting go of tens of thousands of people, an uncertain future is predicted for the Vietnamese human resource market and its own tech industry.

Telegraph names Vietnam among best places in Asia to visit

As Asia finally emerges from the COVID-19 pandemic to welcome back visitors, this marks an ideal moment for travelers to make trips to Asian countries, including Vietnam.

HCM City state agencies unable to recruit 'excellent students' for last 5 years

The city has not been able to attract excellent students or young scientists to state agencies since 2018 because of the unattractive salary policy.

Two broken undersea cables linked to Vietnam to be fixed

Two among four broken undersea cables linked to Vietnam are scheduled to be fixed in March and April this year, reported the local media.
back_to_top