Artificial Intelligence will reshape Vietnam’s payment landscape


Generative AI will lead to a transformational shift for businesses and consumers, creating a more seamless shopping and payment experience for consumers.


Vietnam's payment landscape is set to undergo significant transformation through the use of generative artificial intelligence (AI), according to Visa, a world leader in digital payments. Visa's Vietnam Client Forum, held in Hoi An, highlighted generative AI and embedded finance as the key payment trends in Vietnam.

Vietnam is in an excellent position to utilize AI to enhance the payment experience for both consumers and businesses, due to its status as the fastest-growing digital economy in Southeast Asia for the second year running. The country's digital economy is expected to continue growing at a Compound Annual Growth Rate (CAGR) of 20%.

Generative AI is currently revolutionizing numerous industries, including financial services, healthcare, and education. By improving services and productivity, it is transforming business growth strategies. This technology is also set to power many consumer experiences, such as embedded finance.

Embedded finance, which involves integrating payment options into non-financial platforms, is becoming an everyday part of Vietnamese consumers' lives. Whether booking a ride-share service or ordering takeaway food from an app, consumers are benefiting from more seamless customer journeys. Businesses can leverage embedded finance technology to develop integrated solution offerings, simplifying the payment process for merchants.

“At Visa, we recognize the tremendous potential of AI and embedded finance,” said Ms. Dung Dang, Visa Country Manager for Vietnam and Laos. “We are working with our partners to facilitate increasingly frictionless and secure digital payments in Vietnam. As a trusted brand working with players in the payment ecosystem, Visa is well positioned to shape this space and innovate for the future.”

Visa has been at the forefront of using AI for fraud and payments risk protection for over 30 years. It was the first network to deploy AI-based technology for risk and fraud management, pioneering the use of AI models in payment security. Visa Consulting & Analytics recently launched its new AI Advisory Practice, built to focus on empowering its clients with actionable insights and recommendations to harness the potential of artificial intelligence, including generative AI.

“The AI revolution is here, and the payments sector is at the forefront of this transformation,” says Mr. Manideep Gupta, VP, Visa Consulting & Analytics, Asia Pacific. “With the new AI Advisory practice, Visa is helping clients grow and redefining how they serve their customers through acquisition and engagement.”

In the financial services industry, banks and financial institutions can navigate a competitive market landscape by using AI to acquire more customers, enhance customer engagement, and optimize operational excellence. AI facilitates quicker credit assessment for consumers and businesses, which is critical in enabling simpler and more reliable underwriting and collections. The technology can also expedite fraud detection and protection, improve dispute management processes, and automate financial advisory services. This leads to a better user experience and allows the provision of intelligent financial services, such as hyper-personalized recommendations and offers.

Visa’s updated Security Roadmap for Vietnam, launched in April 2023, provides the framework for securing the payments ecosystem in Vietnam in collaboration with various partners. Visa uses AI and data-driven solutions to safeguard both online and physical transactions from potential threats. In October 2023, Visa announced a US$100 million initiative to invest in companies focused on generative artificial intelligence.



About Visa

Visa (NYSE: V) is a world leader in digital payments, facilitating transactions between consumers, merchants, financial institutions, and government entities across more than 200 countries and territories. Our mission is to connect the world through the most innovative, convenient, reliable, and secure payments network, enabling individuals, businesses, and economies to thrive. We believe economies that include everyone uplifts everyone everywhere and see access as foundational to the future of money movement. Learn more at