31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Visa, Google and banks launch Google Wallet today
Phi Nhat 14:41, 2022/11/15
With digital payments becoming the go-to choice for a seamless experience, Google Wallet is now available in Vietnam.

Google and Visa, in partnership with seven local banks, launched Google Wallet in Hanoi on November 15.

 Delegates attend the event. Photo: Phi Nhat

Starting today, Visa credit and debit cardholders of ACB, Sacombank, Shinhan Bank, Techcombank (credit only), TP Bank, Vietcombank, and VPBank will be able to add their payment cards to Google Wallet. 

The launch is expected to support Vietnam’s strategy to broaden the use of non-cash payments by 2025. According to Visa, the Vietnamese government has rolled out various policy measures and initiatives to make cashless payments the standard, with the target of growing non-cash payments by 20-25% annually.

Speaking at the launching ceremony, Visa Country Manager of Vietnam and Laos Dung Dang said mobile devices are truly ubiquitous across Vietnam, with consumers using them to stay connected, do business and source their entertainment. "By launching support for Google, we are unlocking another core capability for Visa cardholders, providing them with a faster, safer, and more convenient way to pay with their smart devices.”

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.

Chen Way Siew, Google Wallet Partnerships Lead, Google Asia Pacific, said users don't need to transfer money into the app. He added that it acts as a digital container that holds digital versions of physical items found in an actual wallet, such as payment cards.

In the coming weeks, Visa cardholders of MB Bank and Mastercard cardholders of select banks can add their payment cards to Google Wallet. 

RELATED NEWS
TAG: Google visa e-wallet Vietnam
Other news
12:00, 2023/00/22
Hanoi eyes comprehensive development in 2023: Mayor
In 2023, the city is determined to successfully implement its yearly socio-economic goals and realize part of the 2021-2025 key development tasks.
16:54, 2023/54/18
EU, Germany fund to enhance public financial management in Vietnam
A robust public finance management system will enable Vietnam to achieve its long-term socio-economic growth.
13:56, 2023/56/17
Vietnam proposed 30% cut in land lease in 2023
Last year, a similar cut caused the state to miss out on VND3.5 trillion (US$150 million) in revenues.
14:58, 2023/58/14
Vietnam's foreign reserves to return to US$100-billion mark by year-end
During the first 10 months of 2022, the State Bank of Vietnam (SBV) was forced to sell an estimated 20% of total foreign exchange reserves to stabilize the exchange rate.
11:03, 2023/03/07
Vietnam’s 2023 GDP growth forecast at 7.2%: Standard Chartered
The forecast comes from the country's solid growth of 8% in 2022.
21:25, 2023/25/05
Gold of high interest for Vietnamese investors to combat inflation
As many as 73% of Vietnamese investors still believe in digital assets, despite market turbulence in 2023.