Vietnam’s BNPL Journey: A Story of Digital Transformation and Consumer Empowerment: TraceData Research
Imagine a young professional in Hanoi ordering a new pair of earbuds online. At checkout, she chooses “ Buy Now, Pay Later” (BNPL). Within seconds, interest-free instalments are approved—no credit card, no paperwork. That one click represents a quiet revolution transforming how Vietnam shops, saves, and spends. A Rising Tide: Vietnam’s Digital Backbone Vietnam’s BNPL boom is being powered by its digital economy. The country’s e-commerce market has seen rapid growth in recent years and is projected to more than double within just a few years. As smartphone adoption deepens and online retail becomes mainstream, convenient payment models like BNPL are thriving. Vietnam’s youth-heavy demographic, high internet penetration, and rising middle class all combine to create fertile ground for BNPL adoption. This payment option is not just about deferred payments—it’s about flexibility, convenience, and access, particularly for those who are underbanked or without credit cards. M...