Table of Contents
Vietnam is a vibrant country where cash remains king, but digital payment methods are rapidly gaining ground. Whether you’re booking hotels, dining out, or shopping at local markets, knowing your payment options can save you time and hassle. Here’s a comprehensive guide to help travelers navigate payments in Vietnam:
Credit/Debit Card Payments via POS Machines
Many hotels, upscale restaurants, and shops in major cities accept international credit and debit cards through POS terminals. However, be aware that:
Banks may charge transaction fees, sometimes exceeding 4%. Smaller businesses and rural areas often lack card payment facilities. Always check with your bank about foreign transaction fees before traveling.
Cash (Vietnamese Dong, USD, EUR)
Cash remains the most widely accepted payment method in Vietnam. Key points:
Vietnamese Dong (VND) is the preferred currency for most daily transactions. ATMs are widely available, but withdrawing cash with foreign cards may incur fees. Some tourist areas accept USD or EUR, but exchange rates are usually less favorable than paying in VND. It’s wise to carry some cash for small vendors, taxis, and places without card facilities.
International Transfer Apps (Wise, Remitly, etc.)
Apps like Wise and Remitly are excellent for sending money internationally to Vietnamese bank accounts. They offer:
Competitive exchange rates and lower fees compared to traditional banks. Convenient fund transfers before or during your trip. However, these apps are generally not used for direct payments at shops or restaurants.
PayPal
While PayPal is accepted by a limited number of businesses, it is not common in Vietnam due to:
High transaction fees. Unfavorable exchange rates. Mostly used for online bookings of tours or services before arrival.
Credit Card Payment Links
Some hotels and travel agencies provide secure online payment links. This method:
Functions like a card swipe but is done remotely. Usually incurs processing fees similar to POS transactions (around 3–4%). Offers a convenient way to pay in advance or settle bills without physical cards.
Moreta Pay – The QR Code Payment Solution for Foreign Visitors
Vietnam has embraced QR code payments extensively, and Moreta Pay is a user-friendly app that allows foreign visitors to join this trend easily. You can scan a merchant’s or individual’s QR code to pay instantly, just like a local bank transfer. Features include:
Link your credit card, Wise account, or other international payment sources. Accepted almost everywhere—from cafes and taxis to street vendors and markets. Highly recommended for convenience and safety, especially for seamless digital transactions without needing a local bank account.
Important Update on Fees (Effective October 17th, 2023, at 7am UTC+7): Moreta has introduced new fees to maintain service quality while aiming to keep costs low. Here's a breakdown:
- Deposits: Free for amounts over 250 USD, 200 GBP, or 225 EUR (except cards). For smaller deposits: 1 USD for US banks, 1.50 USD for EUR or UK banks, and 2.5% (minimum 1.50 USD) for cards.
- Payments: In Vietnam (along with Philippines, Laos, Mongolia, and Cambodia), there's a 1.5% transaction fee with no cash back. (Note: Thailand offers 1% cash back with no fees.)
- Withdrawals: Minimum of 5 USD per withdrawal. Fees are 1 USD + 0.5% for US banks, and 1.50 USD + 0.5% for EUR or UK banks.
These fees are generally still more competitive than PayPal or traditional credit card swipes for everyday use, but always check the app for the latest rates and plan your deposits accordingly to minimize costs.
Download IOS app /Android app
Local Vietnamese Apps: Momo and ZaloPay
For an even more integrated experience, consider downloading popular local e-wallets like Momo or ZaloPay. These apps are ubiquitous in Vietnam and widely used by locals for everything from street food to utility bills. They're especially handy for tourists who want to pay like a local via QR codes. Key details:
- Momo: Vietnam's leading digital wallet with over 30 million users. It supports QR code payments at millions of merchants, including small vendors, supermarkets, and ride-hailing services like Grab. Foreign visitors can sign up with a Vietnamese phone number (easy to get via a local SIM) and link international cards or top up via bank transfers. Fees are low (often free for basic transactions), and it offers promotions like cashback on rides or dining. However, full features may require ID verification, which can be a hurdle for short-term travelers.
- ZaloPay: Integrated with the popular Zalo messaging app (Vietnam's WhatsApp equivalent), making it super convenient if you're already chatting with locals. It accepts QR payments everywhere Momo does and supports linking foreign cards or top-ups via ATMs/banks. Transaction fees are minimal (around 1-2% for international links), and it's great for splitting bills or sending money to friends. Like Momo, you'll need a local phone number to start, but setup is quick.
Both apps are secure, support English interfaces, and are accepted nationwide—even in rural areas. They're ideal for avoiding cash altogether, but download them early and have a VPN ready if needed for app stores.
Final Tips for Travelers:
- Always carry some cash for small purchases and places without internet access.
- Use Moreta Pay, Momo, or ZaloPay for larger payments and convenience; opt for credit cards for bookings.
- Check fees and exchange rates before using any payment method—especially with Moreta's recent updates.
- Keep your payment apps updated and secure, and consider getting a local SIM for easier app access.
With these options, you can enjoy your trip to Vietnam without worrying about how to pay!
