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TGM Marketing Team

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Key Insights from the TGM Vietnam E-commerce Report 2025

Vietnam’s E-commerce Payment Shift in 2025: From CoD to BNPL

Just three years ago, only 17% Vietnamese shoppers used Buy Now, Pay Later. Today, nearly half do. As BNPL rises and CoD holds its ground, Vietnam’s payment landscape is undergoing a quiet revolution.

Vietnam’s digital commerce is evolving and so are the ways people choose to pay. According to the TGM Vietnam E-Commerce Insights 2025, the shift isn’t just about payment mechanics; it reflects broader changes in consumer confidence, financial behavior, and expectations for online convenience.

While Cash-on-Delivery (CoD) remains the top choice for many, Buy Now, Pay Later (BNPL) services have made a striking leap in usage over the past three years. The Vietnamese payment map is no longer dominated by a single method, it’s becoming more layered, with both traditional and emerging solutions shaping the journey from browsing to checkout.

CoD Still Leads, But BNPL Is Gaining Serious Momentum

In 2025, 35% of respondents say they prefer Cash-on-Delivery when making online purchases, maintaining its place as the leading payment method. CoD continues to resonate across age groups, serving shoppers who are familiar with its process and value the ability to pay upon receiving their goods.

Yet the data also shows a rapid expansion of BNPL adoption. In 2022, only 17% had used BNPL in the past year. That figure has climbed to 49% in 2025, highlighting a major increase in adoption. This growth is especially visible among consumers aged 25-34 and female shoppers, reflecting evolving digital behaviors and openness to alternative payment structures. BNPL is changing not only how people pay, but also when and why they commit to a purchase.

49% Vietnamese shoppers use BNPL in 2025, highlighting a major increase in adoption compared to 2022.

Note: These payment shifts are not happening evenly across the market, but vary by shopper type, digital maturity, and purchase motivation. Differences in who adopts BNPL faster and who continues to rely on Cash on Delivery are closely tied to distinct online buyer segments and their behavior patterns. TGM's Vietnam Online Consumer Segments analysis will map these groups in detail, helping you connect payment method preferences with segment profiles, channel usage, and decision styles for a more accurate reading of the trend. "

Flexible Payments Are Changing Vietnamese's Purchase Decisions

5% of respondents consider BNPL one of the most appealing promotional offers

Beyond its functional role, BNPL is starting to show up in how consumers perceive online promotions. According to TGM Vietnam E-Commerce Insights 2025 report, 5% of respondents consider BNPL one of the most appealing promotional offers, and 4% have actively selected it at checkout.

This shift signals that payment methods are now part of the value proposition for digital shoppers. Just as discounts or free shipping affect purchase intent, flexible payment options can influence the path to conversion.

CoD, meanwhile, continues to play a foundational role, offering reassurance for first-time buyers and those with established preferences.

Rather than being replaced, it remains part of a broader mix, reflecting how diverse and adaptable Vietnamese consumers are when it comes to payments.

Note: Payment preferences and promotion appeal are only part of the conversion story. The way Vietnamese shoppers evaluate price, trust signals, delivery speed, reviews, and platform credibility also plays a decisive role in whether they complete a purchase. For a deeper breakdown of the decision drivers behind online buying behavior, explore the Factors Influencing Online Shopping in Vietnam analysis, which connects payment choices with the broader set of motivations and barriers shaping checkout decisions.

Want to go beyond the basics? Unpack the key shifts redefining Vietnam’s e-commerce landscape.

What Comes Next for E-Commerce Brands

Vietnam’s payment landscape isn’t simply changing, it’s diversifying. As BNPL usage increases and CoD holds firm, e-commerce platforms are challenged to support a range of payment preferences rather than optimizing for one.

For businesses, this means more than enabling transaction completion. It’s about aligning with user expectations, regional behaviors, and demographic differences. Offering both trusted and flexible options ensures accessibility, builds trust, and allows platforms to capture a wider range of shopper profiles.

Whether it’s through installment plans or familiar cash methods, relevance lies in offering choice and making that choice frictionless.

Vietnam’s e-commerce market is dynamic, and payment trends are just one part of the story. To explore deeper insights on shopper segmentation, preferred payment methods, and behavioral shifts across categories, download the mini TGM Vietnam E-Commerce Insights 2025 report.

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