Google Wallet is now available for use on Android mobile phones in Vietnam as of November 15. On November 15, 2022, Visa officially introduced Google Wallet to cardholders in Vietnam. This is great news for Vietnamese people, as Google Wallet is one of the easiest and most convenient mobile payment methods at present. According to Mr. Chen Way Siew, Google Wallet Partnerships Lead of Google Asia Pacific: “It is easy to use as you don’t need to transfer money into the app. It acts as a digital container that holds digital versions of physical items found in an actual wallet, such as payment cards” Commenting on this event, Mr. Dung Dang, Visa country manager for Vietnam and Laos said: “Mobile devices are now very popular in Vietnam. Consumers use them for communication, business and entertainment. Together with Google, we enable another essential feature for Visa cardholders, giving them a quicker, safer, and more practical method to make payments on their mobile devices.” According to Visa’s Consumer Payment Attitudes 2021 study, three-quarters of consumers use mobile contactless payments in Vietnam at least once a week. Therefore, this is not only a great opportunity for Vietnamese people to have another option to use contactless payments but also a good chance for Google Wallet to significantly expand their market. To use the service, people need to download the Google Wallet app from the Play Store, provide the required information, and follow the on-screen instructions. At present only android users can add Visa credit and debit cards to their phones for payment to use this service. Vietnamese banks that are now supporting Google Wallets are ACB, Sacombank, Shinhan Bank, TP Bank, Techcombank (credit card only), Vietcombank and VPBank. “According to the e-Conomy SEA 2022 report, digital payments are gaining popularity and are expected to hit $143 billion in gross transaction value in Vietnam by 2025.” said Mr. Chen Way Siew. Before Vietnam, Goolge Wallet have been available in only 58 countries, mostly in developed countries in Europe and North America. After Singapore, Malaysia, and Thai Lan, Vietnam is the fourth country in Southeast Asia where users have access to Google Wallet.
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