07.10.2020, 13:32

Deep Dive: Vietnam’s brutal e-wallet war

Cash remains supreme in Vietnam, which means that there’s plenty of opportunities for a fintech player to conquer the market and become
the
digital payment provider to the country’s 97 million people.


Deep Dive: Vietnam’s brutal e-wallet war

Photo credit: Momo Vietnam



At the moment, several e-wallet operators are battling to win the hearts and wallets of Vietnam. Who will come out on top?


On this episode of
Deep Dive ,
Tech in Asia
journalist Thu Huong Le discusses the Vietnamese fintech landscape, the challenges of starting up a fintech business in the country, and the future of its e-wallet scene.


Timecodes:


00:00 – Intro music
00:48 – Today’s topic: Vietnam’s brutal e-wallet war
01:24 – How valuable is the sector?
02:17 – Opportunities that await operators
03:21 – Why foreign investors are eyeing Vietnam’s fintech players
05:05 – 34 e-wallets hoping to replicate Alipay and WeChat Pay’s success in China
05:54 – Challenges in the market
08:35 – Trailing far behind other fintech markets in Southeast Asia
11:20 – The top players of the e-wallet game
13:10 – None of them are making money
15:05 – Do foreign players have an edge over local players?
16:02 – Looking at the e-wallet wars in Indonesia
18:21 – The biggest hurdle: Local regulations
20:15 – What Vietnam’s e-wallets need to do to stay ahead


Download the full transcript
here .


Featured reporter:


Thu Huong Le , a
Tech in Asia
reporter based in Vietnam

Essential reading:


Vietnam’s e-wallet war has just begun, and it will be brutal

Episode Sponsor:


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