State Bank of Vietnam reports strong growth in non-cash and QR code payments as ATM transactions decline

The State Bank of Vietnam published Payment Department statistics showing rapid year-on-year growth in non-cash payments in the first nine months of 2025, led by QR code transactions, alongside a continued decline in ATM cash withdrawal activity. Across the first nine months of 2025 versus the same period of 2024, non-cash payment transactions increased 43.32% by volume and 24.23% by value, with internet channel transactions up 51.20% by volume and 37.17% by value, mobile channel transactions up 37.37% by volume and 21.79% by value, and QR code transactions up 61.63% by volume and 150.67% by value. Interbank electronic payment system transactions rose 4.56% by volume and 46.87% by value, while financial switching and electronic clearing system transactions rose 19.14% by volume and 5.87% by value; ATM transactions fell 16.77% by volume and 5.74% by value. As of end-September 2025, there were more than 10.89 million Mobile-Money accounts, with around 7.5 million (about 70%) in rural, mountainous, remote, border and island areas, and over 290.43 million Mobile-Money transactions totaling around VND 8,511 billion. The central bank also reported 53 licensed and active payment intermediary service providers, including 49 e-wallet providers, and noted in a Deputy Governor’s remarks at an IFC and Vietnam Banks Association forum that SBV will continue implementing national policies and strategies on science, innovation and digital transformation, including under Resolution 57/NQ-CP.