Vietnam e-wallet market up 26.6%, AI rules begin

Vietnam‘s prepaid card and digital wallet market is steadily growing thanks to the expansion of local and international card credential acceptance and improved QR code interoperability. Meanwhile, the Southeast Asian country has become the first in the region to adopt a comprehensive AI regulatory framework.

Vietnam’s prepaid card and digital wallet intelligence growing strong

Vietnam’s prepaid card and digital wallet market is projected to reach $7.19 billion this year, up 26.6% year over year, according to a Q1 2026 update from Research and Markets.

The prepaid and digital wallet market sector in the country posted a strong 30.7% CAGR from 2021 to 2025 and is forecasted to expand at a 23.1% CAGR from 2026 to 2030, reaching $16.52 billion by 2030, up from $5.68 billion value in 2025. Research and Market tracks more than 80 KPIs, covering transaction value, volume, card circulation, and wallet usage across the payments sector.

Vietnam’s prepaid market growth is being driven by broader acceptance of local and international card credentials, enhanced QR interoperability for cross-border payments, and tighter regulations. One key milestone was the collaboration of NAPAS and Mastercard (NASDAQ: MA), which enabled the combination of “domestic and international reach in a single product construct.” The NAPAS-Mastercard co-badged launch involved banks such as Agribank, BIDV, TPBank, Nam A Bank, PVcomBank, and Vikki Bank.

Wallet providers are also part of the growth as they push for better cross-border QR functionality. For example, Visa (NASDAQ: V) launched Visa Pay with VNPT Money in December 2025, enabling Vietnamese users to make QR-based payments abroad, while Zalopay has expanded international QR scanning and plans to support inbound tourists using Visa and Mastercard cards.

Regulation is continuously raising the baseline of fraud traceability as digital payments scale. State Bank of Vietnam (SBV) Circular 41/2025/TT-NHNN, issued in November 2025, tightened e-wallet identity and compliance requirements. Early this year, Decree 368/2025/ND-CP lifted the Mobile Money monthly cap to VND100 million ($3,819.72), intensifying competition for low-value stored accounts.

Check out the full report here.

Vietnam AI law, the first to take effect in Southeast Asia

In other news, Vietnam has become the first country in Southeast Asia to enact a comprehensive artificial intelligence (AI) law, which took effect on March 1 following its passage by the National Assembly in December. The AI law is modeled in part on the European Union’s landmark AI Act—the legislation that centers on managing risks related to generative AI, such as misinformation and copyright violations.

In Vietnam, the law mandates clear labeling of AI-generated content, such as deepfakes, and obliges firms to inform users when they are interacting with agentic agents rather than humans. The law also broadly applies to AI developers, providers, and deployers, including foreign firms operating in the country, highlighting the country’s push to align with “international standards while maintaining digital sovereignty.”

Prime Minister Pham Minh Chinh has described AI and the data economy as “pillars” of a smarter and more sustainable development model. The country plans to establish a national AI computing center and expand Vietnamese data and large language models as part of the digital growth strategy.

Countries racing for AI use and regulation

Countries around the world are increasingly embracing AI, with several noteworthy developments. In February, the Government of Rwanda signed a Memorandum of Understanding (MoU) with Antrophic to bring AI to the country’s education, health, and public sectors. On January 27, the government of the Lao People’s Democratic Republic announced its National Artificial Intelligence Strategy that would be shaped by UNESCO’s AI Ethics Readiness Assessment Methodology (RAM).

AI regulation is also becoming a priority for other nations. In 2023, Brazil’s Senate Internal Temporary Commission on AI (CITA) approved a work plan to establish new guidelines for AI. A report by Mid Foundry in January found that at least 72 nations have proposed over 1,000 AI-related policies and legal frameworks to address concerns surrounding AI safety and governance. This includes major players such as the United Kingdom, the European Union, the United States, China, and Japan.

In order for artificial intelligence (AI) to work right within the law and thrive in the face of growing challenges, it needs to integrate an enterprise blockchain system that ensures data input quality and ownership—allowing it to keep data safe while also guaranteeing the immutability of data. Check out CoinGeek’s coverage on this emerging tech to learn more why Enterprise blockchain will be the backbone of AI.

Watch: AI is a double-edged sword