Best Payment Gateway Vietnam that Raises Your Business to the Next Level
Many Southeast Asia countries are booming in online business domestically and globally. Vietnam is one of them.
The Vietnamese e-commerce business has yet to affect traditional brick-and-mortar sales seriously. However, with a young population embracing mobile commerce quickly and a double-digit sales growth in 2021, it is a market that merchants looking for emerging e-commerce should pay attention to.
The trend of online payment gateway Vietnam has already started. Many international payment services are already investing in Vietnam. Almost 68.72 million active users are already engaged in online activity and use various payment methods to make the payment.
According to the JP Morgan reports, approx 75% of payments are done by the payment gateway. To establish a business in Vietnam, you ought to need the best payment gateway, as most customers prefer online payment.
Let’s check more about the Vietnam payment gateway.F
Overview of the Vietnam Payment Market
Vietnam is one of the fastest-growing markets. There are approx 40 million online shoppers available in Vietnam.
I know the competition is very high, but according to the e-commerce association in Vietnam, the growth rate of online business in Vietnam is approx 30% every year. The Vietnamese customer spends approximately US $210 per year on online shopping, so to make your business a brand and make more and more profit, Vietnam is one of the best places. It is expected that if the online market keeps its current growth rate of 30%, it will hit US $33 billion by the end of 2025.
With the above figure, you can imagine that Vietnam will become the hub of online businesses in the upcoming years. So, it is a good time to invest in Vietnam. As a result, it will return you huge profits.
Current Payment Solution Landscape in Vietnam
The eCommerce sector invests quickly in FinTech innovation to facilitate quick, secure digital transactions in Vietnam. One of the top priorities is still maintaining seamless connectivity between customers and enterprises.
Incorporating a flexible payment solutions paradigm will enable Vietnam to envision the following strides:
Integrated e-payments
Ecommerce is flourishing in Vietnam nowadays. It is because of the e-payment integrations as it increases the accessibility and conveniences for customers. Among all the e-payments, mobile wallets are the most popular. E-payment integration paves the way for successful conversions.
International Scalability
Fintech adoption for scalable local and international sales and transactions is possible for Vietnamese firms by integrating digital payment gateways. The existing payment solution environment in Vietnam enables cross-border transactions for both small and large-scale businesses. eCommerce has improved in terms of usability, flexibility, and strength.
Factors to Consider While Choosing the Payment Gateway Vietnam
Once you establish an online business in Vietnam, you ought to integrate a payment gateway to accept online payments. In Vietnam, you can find lots of payment gateway for your business. But, the main challenge is finding the best one compatible with your business.
Here, we will discuss some secrets to help you choose the best payment gateway in Vietnam.
There is no need to reiterate the need for a reliable payment gateway. If your payment gateway often goes offline, you can only fix it when it returns online, ultimately stopping your business. Furthermore, you must be able to swiftly get in touch with the payment provider if you run into any issues.
Make sure that your selected payment gateway must be trustable.