Gen Z, which accounts for about a third of the workforce in Vietnam with more than 19 million people aged 1427, has financial knowledge, is proficient in digital technology and focuses on self-improvement, thereby changing spending methods, security and daily payment experience.
These are unique findings for the Vietnamese market highlighted in the Gen Z Decoded survey report released by Visa on the afternoon of September 5. According to data collected from experts from this payment technology platform, Gen Z Vietnam has a clear view of what they expect from digital payments.
Of these, two-thirds of survey participants actively pursue financial goals and one-third of survey participants see financial freedom as their top priority - facing increasing cost pressure.
They often shop online, mainly at small stores or on used goods platforms, and explore products through content on social networks.
Above all, they want a seamless and safe payment experience: quick in a busy, simple life when there are too many options and security against unpredictable risks. With 1/4 of survey participants worried about fraud, trust has become a core element of the payment experience rather than just an added value.
In addition, Gen Z Vietnam also emphasizes the safety of digital payments. They expect stronger protective layers, operating silently behind - from smarter authentication, clearer warnings and minimizing unnecessary transaction refusal cases, to ensure valid transactions are handled smoothly, while preventing suspicious activities early.
As the trend of shopping on social networks and used commodity platforms is growing, safety measures are also being extended to places where young people regularly shop, helping to reduce the risk of fraud without interrupting the experience.
Whether paying by card, e-wallet or bank transfer, the experience is aiming for consistent safety and easier incident handling, along with providing additional tools and knowledge to help consumers identify risk signs and better control their financial resources.
According to data from the State Bank, in 2024, the value of non-cash payments in Vietnam will reach VND 295.2 trillion, the rate of people aged 15 and over with bank accounts will reach 86.97%.
By the end of the first quarter of 2025, there are 47 e-wallet service providers in Vietnam; the number of e-wallets operating in Vietnam is about 30.27 million wallets (accounting for 65.8% of the total of nearly 46.01 million activated e-wallets) with the total amount on these wallets being over 2.8 trillion VND.
