Digital Wallets, Cards, and More: Cashless Payment Tips for Foreigners in Vietnam

How Foreigners Can Pay Without Cash in Vietnam

Vietnam is rapidly adopting cashless payment methods, making it easier than ever for foreigners to navigate their financial transactions while living or traveling in the country. Whether you’re an expat English teacher or a tourist exploring Vietnam’s vibrant culture, understanding the cashless payment options available can simplify your stay.

This guide covers everything you need to know about cashless payments in Vietnam, from mobile wallets to international cards, and answers the most common questions foreigners have about going cashless in the country.

Why Cashless Payments Are on the Rise in Vietnam

Vietnam is experiencing a digital transformation in its financial sector. The government’s push toward a cashless society aims to reduce corruption, improve financial transparency, and enhance convenience. With a population of over 97 million and a high smartphone penetration rate, the stage is set for digital payment methods to flourish.

Key factors driving the adoption of cashless payments include:

• The popularity of e-commerce platforms.
• Government incentives for cashless payments.
• The convenience of QR codes and contactless technology.
• The increased safety and hygiene during the COVID-19 pandemic.

Cashless Payment Methods in Vietnam

1. International Debit and Credit Cards
   Foreigners can use Visa, Mastercard, or American Express cards for payments at hotels, restaurants, and large retail stores. However, smaller vendors or street food stalls often prefer cash or local payment methods.

   • Pro tip: Always check for international card acceptance before making a purchase.
   • Common places accepting cards: Upscale restaurants, supermarkets like WinMart and VinMart, and international hotel chains.
   • Tips for minimizing transaction fees: Use cards with low or no foreign transaction fees and always opt to pay in the local currency when given the choice.

2. Local Bank Accounts and Debit Cards
   If you’re working in Vietnam, opening a local bank account is a convenient option. Banks like Vietcombank, BIDV, and Techcombank offer accounts that come with debit cards usable at ATMs and point-of-sale (POS) systems.

   • Steps to open an account: Bring your passport, visa, and proof of address. Some banks may require a work permit.

3. E-Wallets and Mobile Payment Apps
   E-wallets have revolutionized the way people pay in Vietnam. Popular options include:

   • MoMo: A widely accepted e-wallet for bills, shopping, and food delivery. It’s user-friendly and offers cashback on transactions.
   • ZaloPay: Integrated with Zalo, Vietnam’s top messaging app, it’s ideal for transferring money to friends and paying bills.
   • VNPay: Known for its seamless QR code payment system, widely used in stores and taxis.
   • ShopeePay: Perfect for online shoppers on Shopee, offering frequent discounts.

In addition, every bank in Vietnam provides its own app for online payments and money transfers, allowing seamless integration with their accounts.

Drawbacks for foreigners:

• Verification often requires a Vietnamese phone number and local bank account.
• Some features may not work with international cards.
  Apart from e-wallets, most banks also offer their own apps that allow users to make cashless payments and transfer money online.

1. QR Code Payments
   QR code payments are omnipresent in Vietnam. Many stores and vendors display QR codes that you can scan using apps like VNPay or MoMo.

   Step-by-step guide:

   1. Open your e-wallet app.
   2. Select the QR code payment option.
   3. Scan the vendor’s QR code.
   4. Enter the payment amount and confirm.
   5. Receive a confirmation notification.

   Common issues:

   • Some QR codes are app-specific, so you’ll need the same app as the vendor.
   • Internet connectivity can sometimes be a hurdle.

2. Contactless Payments
   If you’re a traveler and don’t have any e-wallet or bank account in Vietnam, don’t worry. You can still enjoy cashless payments with Apple Pay or Samsung Pay, as these methods are accepted at many locations.

   How It Works:

   • Link your card to Apple Pay or Samsung Pay before your trip.
   • Look for stores with NFC terminals or contactless payment signs.
   • Tap your smartphone or smartwatch on the terminal to complete the transaction.

   Where to Use Contactless Payments:

   • Large retail chains like WinMart and Circle K.
   • International fast-food outlets such as McDonald’s and Starbucks.
   • Mid-range and high-end restaurants in urban areas.

   Tips for Travelers:

   • Ensure your card supports international transactions.
   • Carry a backup card in case contactless payments aren’t accepted.
   • Confirm whether the retailer charges additional fees for using this method.

FAQs About Cashless Payments in Vietnam

1. What are the best payment apps for foreigners in Vietnam?
   MoMo and ZaloPay are user-friendly and widely accepted.

2. Do I need a Vietnamese bank account for cashless payments?
   Not necessarily. Many apps support international cards, but linking a local account enhances functionality.

3. Is cashless payment safe in Vietnam?
   Yes, provided you use trusted platforms and avoid sharing sensitive information.

4. Can I withdraw cash from ATMs using my international card?
   Yes, but check for foreign transaction fees.

5. What’s the maximum amount I can pay via QR code?
   Limits depend on the app and linked account.

6. Do street vendors accept cashless payments?
   Increasingly, yes, especially in cities like Hanoi and Ho Chi Minh City.

7. How do I top up my e-wallet in Vietnam?
   Use a linked bank account, ATM, or select convenience stores.

8. Are there discounts for using digital payments in Vietnam?
   Many apps offer promotions, cashback, and coupons.

9. Can I use PayPal in Vietnam?
   Yes, but it’s mainly for online purchases and international transfers.

10. What’s the most reliable payment method for tourists?
    A combination of cash, an international card, and contactless payment options.

Conclusion

Vietnam’s cashless payment ecosystem is thriving, offering convenience and security for foreigners. By understanding the available options and preparing accordingly, expats and tourists can enjoy a seamless, cashless experience. Whether you’re using e-wallets, cards, QR codes, or contactless payments, going cashless in Vietnam has never been easier or more accessible.

With this guide, you’re now equipped to embrace digital payments and make your time in Vietnam both efficient and enjoyable.