THE GROWING TREND OF USING MULTIPLE E-WALLET PLATFORMS FOR DIGITAL PAYMENTS

2. E-wallets, with their combination of basic functions in one application, have become a game changer for both payment methods and service providers. While Generation X focuses on bill payment and financial transactions, Generation Z and Millennials also use e-wallets for entertainment services and travel activities. INTAGE Vietnam VIETTRACK 2023 aims to equip clients with insightful facts and analysis regarding the evolving consumer behaviors in today's complex world. By uncovering these behavioral changes, the report provides marketers and businesses with essential information to better understand and connect with their target customers. A rising trend among individuals to UTILIZE MULTIPLE PLATFORMS for their digital payment needs VIETTRACK Report - May 2023 Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

3. A digital wallet, also known as an e-wallet, is an electronic device, online service, or software program that allows one party to make electronic transactions with another party bartering digital currency units for goods and services. Founded in 2007 MoMo enables users to make a wide range of transactions, including bill payments, money transfers, mobile top-ups, and online shopping. It also offers features like QR code payments and cash withdrawals at partner locations. Launched in 2017 ZaloPay, integrated within the popular messaging app Zalo, provides users with options for peer-to-peer money transfers, bill payments, movie ticket purchases, and online shopping. It also offers loyalty programs and promotions for users. Introduced in 2016 as Shopee Wallet, rebranded to ShopeePay in 2020 ShopeePay, the integrated digital wallet of the leading e-commerce platform Shopee, allows users to make seamless payments for online purchases. It also offers additional features such as bill payments, mobile top-ups, and food delivery services. Introduced in Vietnam in 2016 GrabPay, initially a ride-hailing app, has expanded its services to include digital payments. Users can pay for rides, order food, make bill payments, and transfer money using GrabPay. It also offers rewards and loyalty programs for frequent users. Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

4. With all basic functions combine in an application, e-wallet seem to be a game changer, not only for payment method but also for service supplier. 64% Consumers use e-wallet at least 4 times/week 3.8 mil VND Is the monthly average spending on e-wallet GenX: 2.8 mil VND GenY: 2.9 mil VND GenZ: 3 mil VND MOST COMMON FUNCTIONS USE ON E-WALLETS: 95% Bill payment Top up service, water & electric bill payment 94% Financial transactions Money transfer, credit payment 64% Entertainment service payment: Purchase movie ticket, in-game code 45% In-app activities 32% Travelling service payment Base: All Respondents (n = 260) Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

5. Main Wallet Side Wallet Transfering money to those who are using the same e-wallet 59 64 Transfering money to a bank account 54 53 Loan/credit card payment 19 18 Financial services 15 18 Buying insurance 8 11 Top up service 71 67 Bill payment 68 62 Insurance payment 13 11 Purchasing in-game code/items 24 28 Buying movie tickets 32 34 Buying plane/train/car ticket 14 21 Booking hotel room 12 16 Doing charity activities 13 10 Playing games on e-wallets 28 28 84% of e-wallet users utilize multiple e-wallets for their digital payment needs. The side e-wallet is often preferred for online travel bookings, while the main wallet takes priority for bill payments and other regular expenses Base: All Respondents (n = 260) Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

6. I use other e-wallets beside the main one so that I can take advantages of their promotions (on Baemin, Family Mart, Lazada, etc). After a while when the promotions are less, I hardly use them. Mr. Trieu I am currently using two e-wallets. I use the main e-wallet to pay bills (electricity, water, internet,...) and purchase tickets due to its high credibility & user-friendly interfere. But I also use another e-wallet because it’s easy to make payment on some e-com sites (Shopee Pay, Lazada …) Ms. My I use a main e-wallet together with others; the main one is for money transferring to friends or to my bank account. The other e-wallets are useful for payment at different places like restaurants/ coffee shops as they often have special discount. Ms. Anh Copyright© INTAGE VIETNAM LLC. All Rights Reserved. Gen Z Gen Z Gen Y Gen Y Gen X Gen X

7. The convenience* of e-wallets is a top priority for consumers, with promotion policies exerting a significant influence, particularly on the Gen Z demographic. Can make payment on e-com & delivery app Transactions are quick and simple Can work with a good variety of bank Safe and highly secure Make transactions with no fees Base: All Respondents (n = 260) 87% CONVENIENCE* Security 27% Promotion Policy 39% Software 25% Transaction Policy 28% 81% 48% 29% 28% 31% 89% 36% 27% 24% 22% 94% 29% 24% 41% 29% Convenience Promotion Policy Transaction Policy Security Quality and interface software GenZ (n=82) GenY (n=161) GenX (n=17**) *which includes features such as connecting with multiple banks, making payments at various locations (restaurants, cafes, supermarkets, etc.), online shopping & food delivery payments (e.g., Tiki, Lazada, Baemin, ShopeeFood, Grab Food), and integration of multiple payment categories (electricity, water, phone bills, in-store purchases, transportation, hotels, etc.). ** Small sample, data for reference only Base: All Respondents (n = 260) Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

8. VIETTRACK is an annual research which aims to deliver facts & indicators about various topics including consumers’ changing perceptions & behaviors on general market trends or any categories or services, ... We believe that VIETTRACK could bring the breath of consumers to marketers, from which they find out the most appropriate way to connect & to satisfy their needs that are becoming more sophisticated by time. This study are conducted in May 2023 and findings are based on 260 respondents from our MOBILE PANEL About VIETTRACK TARGET o Male & female o Age: 15-40 yo. o SEC: ABCD METHODOLOGY: o Quantitative o Online Survey FOR OTHER TOPICS, PLEASE OONTACT US via  contact@intage.com.vn  (+8428) 3820 5558 HCMC 50% Hanoi 50%

THE GROWING TREND OF USING MULTIPLE E-WALLET PLATFORMS FOR DIGITAL PAYMENTS

THE GROWING TREND OF USING MULTIPLE E-WALLET PLATFORMS FOR DIGITAL PAYMENTS

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