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Mobile payment in vietnam

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Mobile payment changes the ways to spend in many Asian countries and the same trend came to widespread in Vietnam.

This report illustrates the motivation, usage and popular apps among Vietnam mobile payment users

This survey was conducted among 383 mobile payment users in HCM and Hanoi from the age of 18 - 44 years old.

Published in: Marketing

Mobile payment in vietnam

  1. 1. Q&Me is online market research provided by Asia Plus Inc. Mobile payment usage in Vietnam Asia Plus Inc.
  2. 2. Overview Mobile payment changes the ways to spend in many Asian countries and the same trend came to widespread in Vietnam. This report illustrates the motivation, usage and popular apps among Vietnam mobile payment users This survey was conducted among 383 mobile payment users in HCM and Hanoi from the age of 18 - 44 years old.
  3. 3. Whom do we ask? 56% 44% Recognition of mobile payment We ask the respondents of 18 - 39 years old in HCM and Hanoi, who are in use of the mobile payment now. Q. What is applicable to you? 59% 41% Usage of mobile payment Target audience of this research
  4. 4. Motivation and usage of mobile payment
  5. 5. Background: Popular bank account in use Vietcombank 44% Agribank 18% BIDV 18% Vietinbank 17% Sacombank 13% Techcombank 12% VPBank 11% ACB 9%
  6. 6. Motivations to use mobile payment Easiness, quickness and convenience are the main motivations to initiate mobile payment *Very important=33%, important=58% (out of 4 criteria)Q. Question title (N=XX) Q. What are the reasons that you use / have used mobile payment? 73% 68% 65% 62% 62% 46% 36% 26% 5% Easiness of payment Quick transaction No need to carry cash Easy money transfer Good discount / promotions Easy store payment (QR code) Low transfer cost Good security Good financial / loan service
  7. 7. 92% 80% 80% 73% 70% 67% 58% 24% 23% Mobile top-up Money transfer Online shopping payment Utility payment Payment at stores Payment at Cinema / theatre Transportation payment (e.g Grab) Use loan / installment service Financial investment Mobile top-up is the service used the most, followed by money transfer and online shopping payment *Very important=33%, important=58% (out of 4 criteria) Popular service in use Q. Please choose what you do/did with mobile payment service?
  8. 8. Mobile payment ratio for the services The usage is high in mobile top-up, utility and money transfer. Q. Please choose what is/was applicable to you 55% 45% Mobile top up 41% 59% Utility payment 40% 60% Money transfer 35% 65% Cinema payment 31% 69% Transportation 28% 72% Store payment 21% 79% Restaurant, cafe 13% 87% Loan service
  9. 9. 66% 22% 6% 4% From the linked bank account From credit card From the partner store (via QR code) Remittance from family / relatives / friends Cards are the best common method to charge mobile payment app Charge method Q. How do/did you charge mobile payment app?
  10. 10. Frequency 21% 37%12% 19% 5% 6% Every day / almost every day 2-3 times / week Once / week 2-3 times / month Once / month Less often *Very important=33%, important=58% (out of 4 criteria) 70% uses mobile payment at least once a week, in which 21% uses every day Q. How often do/did you use mobile payment app? (Average of last 1 month)
  11. 11. Satisfaction towards current mobile payment Mobile payment users are satisfied thanks to quick payment and easy to use Q. How much are you satisfied with the mobile payment service in use? 39% 52% 8% Satisfaction Very satisfied Satisfied Average Satisfied Very satisfied 74% 73% 64% 58% 43% 42% 42% 38% Quick payment Easy to use No need to carry cash Discounts/ Promotions Many shops that I could use Points system is attractive Safe Low cost of transaction Reasons for satisfaction
  12. 12. (Non-users) Reasons not to use mobile payment Q. What are the reasons that you did not continue to use mobile payment? Concerns on the security 32% Do not know how to use 31% Lack of shops for mobile payment 23% Cash is easier 16% Reluctance on transaction cost 16%
  13. 13. Mobile payment brand preference
  14. 14. Top of mind service 77% comes up with Momo, as the top-of-mind mobile payment player Q. What are the name that comes up when you hear mobile payment? 77% Moca, 5% Viettel Pay, 5% Others, 13%
  15. 15. Brand awareness Momo is recognized by 97%. ZaloPay and ViettelPay recognition are 68% and 62% respectively 97% 68% 62% 46% 39% 33% 28% 23% 23% 17% 15% 7% 3% 3% 1% 1% 1% Q. Please choose all the mobile payment services that you know?
  16. 16. Brand to use the most Momo is dominant with 68% of the share followed by Viettel pay, moca and AirPay. 68% 8% 7% 6% 5% 6%
  17. 17. Reasons to use The services are picked up due to the good promotions and service varieties. Momo is renowned as the support at many stores Good promotion 54% Usable at many stores 50% Variety of services 50% Friends, family recommendation 33% Usable at my common stores / services 28% No.1 No.2 No.3 No.4 No.5 Q. What are the reasons that you use the selected brand most? Good transfer service 65% Good promotion 55% Variety of services 50% Recommended by service provider 40% Name / Brand 35% Good promotion 89% Variety of services 61% Usable at many stores 39% Recommended by service provider 22% Usable at my common stores / services 22% Good promotion 63% Variety of services 38% Usable at many stores 25% Recommended by service provider 25% Usable at my common stores / services 19%
  18. 18. Mobile payment usability in popular outlets Channel support information on the report is as of Dec, 2019
  19. 19. Categories to cover No. Category 1 Convenience store 2 Supermarket 3 Coffee shop 4 Milk tea 5 Restaurant 6 Utility payment (Electricity, water, Internet, TV) 7 Financial payment 8 EC platform
  20. 20. Convenience store *The data is based on website Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo 7 eleven O O Cheers O Circle K O O Co.op smile O Familymart O O GS25 O O Ministop O O Shop & Go O O O Speed L O Vinmart+ O O
  21. 21. Supermarket Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo 3 Sach Food O AEON Citimart O O Bach Hoa Xanh O Co.op Food O Co.op Mart O Genshai O LOTTE Mart O Marumart O Soi Bien O O O O O Vinmart O *The data is based on website
  22. 22. Coffee shops (1) Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo Chesse Coffee O O Chewy Junior O O E-Coffee O O Effoc Coffee O O Fly Cupcake O O Gemini O O Lavida O O Laha Coffee O O O Milano Coffee O O Napoli O *The data is based on website
  23. 23. Coffee shops (2) Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo Café Helio O O O Passio O O Phuc Long O O Soya Garden O O The Coffee House O Thuc Coffee O O Trung Nguyen Legend O Urban Coffee O Viva Star Coffee O O Wayne’s Coffee O O *The data is based on website
  24. 24. Milk tea Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo Bobapop O O O Gongcha O O O O O Heekaa O O R&B Tea O O O Royal tea O O Share Tea O O O The Alley O O Toco Toco O O O O O O Toocha O O Yifang Tea O O *The data is based on website
  25. 25. Restaurant (1) *The data is based on website Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo Buk Buk O Burger King O O Cơm tấm Cali O O DQ Grill & Chill O Hoang Yen Buffet O O Hotpot Story O Hotto O O O O KFC O O Khao Lao O O O King BBQ O O
  26. 26. Restaurant (2) *The data is based on website Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo King Buffet O O O King Deli O O Lotteria Việt Nam O O O Pizza Hut O Popeyes O O Sushi Bar O Sushi Kei O ThaiExpress O O O O O The Pizza Company O Yellow Cab Pizza O O O
  27. 27. Utility payment Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo Electricity (EVN) O O O O O O O O Water O O O O O O O O Internet (FPT) O O O O O O Internet (VNPT) O O O O O Internet (SPT) O O O O O O TV (K+) O O O O O TV (VTVcab) O O O O O O O TV (mobiTV) O O O O O TV (VTC) O TV (VNPT) O O O O O TV (SCTV) O O O TV (HTV- TMS) O O TV (HTVC) O O
  28. 28. Credit payment (1) Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo FE Credit O O O O ACS O O O Cashwagon O O Doctor Dong O O O Easy Credit O O HD Saigon O O Home Credit O O O O iDong O O Mcredit O O O Mirae Asset O O O O *The data is based on website
  29. 29. Credit payment (2) Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo myKredit O OCB O OnCredit O Paylater O SHB Finance O O O Shinhan Finance O O O O Tima O Toyota Finance O O O TPBank O O Viet Credit O O O *The data is based on website
  30. 30. EC Platform Momo Moca AirPay VNPAY ViettelPay VinID ZaloPay Payoo A day roi O O CellphoneS O Cho tot O Dien may xanh O FPT Shop O O O Lazada O Mua ban O Shopee O The gioi di dong O Tiki O *The data is based on website
  31. 31. Respondent profile (N=383) Male, 46% Female, 54% Gender 18-29, 63% 30-44, 37% Age HCM, 47% Hanoi, 32% Others, 21% City 70% 13% 7% 6% Full-time Employment Student (University/College) Self-Employed Part-time Employment Occupation 4% 7% 9% 17% 19% 11% 15% 9% 3% 3% 2% Lower than 5,000,000 VND 5,000,001 VND - 7,500,000 VND 7,500,001 VND - 10,000,000 VND 10,000,001 VND - 15,000,000 VND 15,000,001 VND - 20,000,000 VND 20,000,001 VND - 25,000,000 VND 25,000,001 VND - 30,000,000 VND 30,000,001 VND - 40,000,000 VND 40,000,001 VND - 50,000,000 VND 50,000,001 VND - 70,000,000 VND 70,000,001 VND - 100,000,000 VND Household income
  32. 32. Q&Me – About Online Market Research Services
  33. 33. Enhanced Service 3: Business survey Provide the research services driven by the technogies Our research solutions Consumer research app Admin platform Traditional market research Collect surveys from online consumers Effective retail audit or data collection Plan, Manage and Analyze data
  34. 34. Our advantage: Direct Panel Management Our strength is 16-39 years old and urban areas. This is where most biz customers would like to research. 400,000 members as of Nov, 2018 0% 1% 18% 31% 22% 14% 7% 3% 3% 1% Age 19% 18% 6% 4%3%3% 47% HCM Hanoi Can Tho Da Nang Hai Phong Dong Nhai Others 56% 44% Male Female Gender City
  35. 35. Our advantage – Quick with quality Online is considered to be “cheap and bad” in general. Q&Me provides several methods providing data with quality FACT CONSISTENCY SCORE 97% THOUGHT CONSISTENCY SCORE 91% STRAIGHT-LINER/ FLAT- LINER SCORE 89% SPEEDERS SCORE 97% QUALITY CHECK SURVEY SPECIFICATION N (Sample size) 300 IR (Incident rate) 100% LOI (Lenght of Interview) 10 minutes Success Criteria Overral score of 80% or higher THE RESULTS Overal score 93.5% Average score in the industry 73% (*) QC scores are generated by Survey Sampling International (SSI), the Worldwide Leader in Survey Sampling and Data Collection Solutions. Asia Plus (Q&Me) is the preferred partner of SSI in Vietnam. Our quality score by SSI
  36. 36. Our quality assurance process Questionnaire based on the exact profile • Refined and very derailed database panel Take out users with irrelevant replies • Remove Fake questions hit users • Remove Contradicted answer users • Take out straight answer users Take out speed users • We count the average median time and take out those who are less than that Manual check by the experienced researchers • Our experienced researchers will check the relevance as well as open comments Re-assortment of panelist priorities • Based on the survey results, bad users are screened out while prioritizing those who return s good feedbacks.
  37. 37. Contact Us URL: http://www.qandme.net Contact: info@qandme.net Q&Me is operated by Asia Plus Inc. Asia Plus Inc. 506 Nguyen Dinh Chieu Street, Ward 4, District 3, Ho Chi Minh City Tel. +84 2839 100 043

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