Cashless payment value reaches 28 times GDP in first half of 2026
Cashless payment transactions in Vietnam rose by more than 34 percent year on year in the first half of 2026, with their total value exceeding 28 times the country’s GDP.
Cashless payment transactions in Vietnam surged by over 34% year-on-year in the first half of 2026, with their total value surpassing 28 times the country's GDP, according to the State Bank of Vietnam (SBV). On August 11, during the SBV's 2026 Banking Digital Transformation event in Hanoi, Deputy Head of the Information Technology Department, Hoang Minh Tien, reported the continued robust growth of cashless payments.
In the first six months of 2026, the volume of cashless transactions increased notably by more than 34% compared to the same period last year, resulting in a total value of over 28 times Vietnam's GDP. The banking sector's digital product and service ecosystem has diversified, with modern and convenient payment methods becoming increasingly interconnected and seamlessly integrated across various industries and sectors.
At many credit institutions, more than 95% of transactions are now carried out through digital channels. As of now, over 89% of Vietnamese people aged 15 and above possess a payment account.
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