1. E-WALLET
E-WALLET
CONSUMER BEHAVIOR
Is it only a post-Covid trend or a perfect
replacement for traditional payment?
VIETTRACK Report May 2023
Copyright© INTAGE VIETNAM LLC. All Rights Reserved.

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
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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%