ZaloPay: The Battle of Super App Platforms in Vietnam

With the increasing demand for cashless transactions and digital payments, e-wallet services are rapidly becoming an integral part of daily purchases across Vietnam. Consumers now rely on e-wallets for everything from paying utility bills, shopping online, booking rides, and ordering food to transfer money instantly. This surge in adoption has fueled intense competition among service providers, each striving to offer better rewards, enhanced security, and seamless user experiences.

Amid this competitive landscape, ZaloPay has emerged as a key player, leveraging its deep integration with Zalo, Vietnam’s largest messaging platform. In this article, we’ll explore what ZaloPay is, how it stands out in the heating battle of super apps in Vietnam, and what this means for the future of digital payments and financial technology in the country.

A super app is a “powerful app” that incorporates many functions and features, from social networking and e-commerce to goods delivery, and e-payment. 

A super app is more than just an application; it is a comprehensive digital ecosystem that seamlessly integrates various services such as social networking, e-commerce, ride-hailing, food delivery, goods transportation, and e-payment solutions—all within a single platform. These apps are designed to simplify daily tasks, making them an essential part of modern digital lifestyles.

Why Super Apps Appeal to Users

For consumers, the convenience factor is the biggest advantage. With increasingly busy lifestyles, Vietnamese users are willing to pay extra for services that save time and effort. The growing demand for 24/7 convenience stores, online shopping, and home delivery has paved the way for all-in-one solutions like super apps. Instead of switching between multiple apps, users can now order food, book a ride, chat with friends, pay bills, and even shop online—all within one integrated application.

Why Super Apps Are a Game Changer for Developers

For businesses and app developers, super apps provide a massive opportunity. By offering multiple services, they not only attract and retain a larger user base but also diversify revenue streams through commissions, subscriptions, and advertisements. Moreover, as these apps become an integral part of daily life, providers can expand their reach to a broader market while creating a stronger brand presence.

Data-Driven Growth & Monetization

Another major advantage of super apps is data collection and targeted advertising. These apps generate valuable user insights, allowing companies to personalize experiences and offer highly targeted promotions. Similar to how Facebook uses social media activity for advertisements, super apps leverage user behavior data to optimize marketing efforts, making them a powerful tool for businesses.

As Vietnam’s digital economy continues to expand, super apps are set to revolutionize the way people interact with technology, offering unmatched convenience while opening new doors for businesses to thrive in a competitive market.

Launched in 2017, ZaloPay is a versatile mobile payment platform designed to cater to both daily transactions and business needs. What makes ZaloPay stand out is its strong integration with Zalo, Vietnam’s most popular messaging app, which was introduced in 2012. By leveraging Zalo’s extensive user base—which surpassed 100 million users worldwide in 2019—ZaloPay has gained a competitive advantage in user acquisition, brand trust, and seamless integration.

This e-wallet provides a wide range of payment features, making transactions more convenient and secure. Users can effortlessly pay utility bills (electricity, water, internet, TV), transfer money via QR codes, and link their bank accounts to withdraw or top up funds. Additionally, ZaloPay offers exclusive promotions, discounts, and cashback programs, making it an attractive digital payment solution for both individuals and businesses in Vietnam’s fast-growing cashless economy.

Key ZaloPay statistics:

• ZaloPay ranked the 3rd payment application of the year at the 2018 Tech Awards ceremony held by VnExpress newspaper. While competitor MoMo took the top spot, followed by ViettelPay.
• According to the latest research by Cimigo, The top three most popular e-wallets – MoMo, Moca, and ZaloPay account for more than 90% of total market share of e-wallet users.
• ZaloPay users make an approximate 1.6 transactions per day.
• In terms of brand loyalty, ZaloPay is 84 per cent.
• To date, ZaloPay is accepted at many retail chains such as The Gioi Di Dong, FPT Shop, Circle K, Lotte Cinema, Galaxy Cinema, BHD Cinema, etc.

Source: Cimigo Market Search on e-wallet users’ perception and behavior toward popular e-wallet brands in Vietnam.

Especially, during the COVID-19 pandemic, ZaloPay has a sudden growth with an estimated growth rate of 36%. Mrs Truong Cam Thanh, ZaloPay Director said:

“ZaloPay recorded a strong growth in money transfer and purchase transactions. The reason is that when implementing social spacing, limiting exposure, the demand for online shopping increases sharply. Other partners such as chains of food stores, super markets, etc. instead of direct sales, also switch to online sales.”

Read also: Super App: 5 Examples of Super Apps Successful Case

ZaloPay stands out in the competitive e-wallet market due to its unique value proposition, which revolves around familiarity, trust, and ease of use. Since ZaloPay is integrated into Zalo, the most widely used messaging app in Vietnam, users can easily adopt it without the hassle of a separate registration process. This seamless integration fosters a strong sense of trust—a key element in the e-wallet industry—making it easier for consumers to confidently use the platform for financial transactions.

What further distinguishes ZaloPay is its instant cash-out feature, allowing users to transfer funds immediately to any linked bank account, which enhances the convenience of managing finances on the go. ZaloPay also enables users to link multiple bank accounts, an essential feature that sets it apart from competitors like Grab.

For example, in October 2018, Grab faced significant challenges when it transitioned users to Moca. Many customers couldn’t access their wallets due to miscommunication around KYC (Know Your Customer) processes, which led to a sharp drop in their user base. In contrast, ZaloPay’s smooth integration and strong customer support system help avoid such issues, making it more reliable for users.

Additionally, ZaloPay’s reputation and extensive user base allow it to establish valuable partnerships with companies, creating more use cases and enhancing its role as a super app. This enables ZaloPay to expand its offerings and compete effectively with other players in the market.

The battleground for being Vietnam’s top super-app is set, the players in full form with funds from international giants pouring into the indigenous startups. Undoubtedly, Super App has become one of the biggest influences on mobile service startups worldwide.

A report found that since the outbreak of Coronavirus, the total number of non-cash payment transactions in Vietnam via the State Bank’s finance switching system increased by 76 percent compared with the same period last year.

After Grab revolutionized the ride-hailing market in Southeast Asia, it sparked a wave of competition, with companies such as Go-Viet now aiming to follow a similar path. Originally a ride-hailing platform, Go-Viet has rapidly evolved to diversify its services, introducing a broad range of on-demand services that cater to the everyday needs of consumers. These offerings are designed to meet the growing demand for convenience in the fast-paced modern lifestyle.

Currently, Go-Viet operates several services within Vietnam. First, it provides motorbike hailing through Go-Bike, allowing users to get quick rides at affordable prices. Additionally, Go-Viet offers food delivery via Go-Food, which has become a popular service for ordering meals from restaurants to be delivered right to customers’ doors. Moreover, Go-Viet has introduced Go-Send, a consumer-to-consumer delivery service, enabling users to send and receive parcels or goods easily within the city.

With these expanded offerings, Go-Viet is positioning itself not only as a transportation service provider but also as a comprehensive on-demand services platform. This transformation aligns with the super app model, where users can access multiple essential services within one app, enhancing convenience and improving customer loyalty. Just like its competitor Grab, Go-Viet aims to leverage its growing customer base and well-established platform to expand further into other on-demand services, strengthening its position in the Vietnamese market and across Southeast Asia.

Read also: How to build app like Uber: Cost, features and tech stack?

Now.vn, owned by Foody, has become a leading super app in Vietnam, particularly in the food delivery space. While specific numbers are not shared publicly, it’s clear that Now.vn is at the forefront of daily food delivery orders in the country. Foody, the parent brand, has built a reputation as Vietnam’s go-to culinary media and restaurant listing platform, boasting impressive statistics. By late 2015, Foody had listed over 122,000 restaurants on its platform, accumulated 297,000 reviews, and gathered 1.66 million photos. It also boasted 2.12 million collections, 650,000 app downloads, and garnered a staggering 9.1 million monthly visitors, of which 5.9 million were mobile users.

The growth and success of Now.vn and Foody can be attributed to the rising popularity of e-commerce and the expanding food delivery market in Vietnam, which has grown increasingly competitive. The food delivery industry saw a significant shift when Grab Vietnam entered the market with GrabFood, creating intense competition. According to a report by Havas Riverorchid, GrabFood is now recognized as the fastest food delivery service in Vietnam, with around 80% of customers agreeing with this statement. This has created a dynamic and competitive environment in the food delivery sector, with platforms like Now.vn and GrabFood constantly innovating to meet the growing demand for quick and efficient services. As these super apps evolve, they are shaping the future of the on-demand services market in Vietnam.

Read also: How to build food delivery app like Uber Eats?

As the race to become super-apps intensifies, several major players in the Vietnamese tech landscape are expanding their offerings, though not all have ventured into e-wallet services. While platforms like Grab, Now.vn, and Zalo have incorporated e-wallets into their ecosystems, Go-Viet has yet to develop its own e-wallet solution. Grab, in particular, made strides by launching a strategic partnership with Moca, a Vietnamese e-payment firm, which led to the introduction of GrabPay by Moca. This e-wallet system allows users to make payments seamlessly within the Grab ecosystem. Beyond payments, Grab’s collaboration with Moca also extends to providing micro-loans and insurance services, expanding its reach into the financial services space in partnership with third parties.

Similarly, Now.vn, which operates under the umbrella of the popular food delivery app Foody, has teamed up with AirPay, a digital wallet provider. This collaboration allows Now.vn users to make payments quickly within the platform, enhancing the convenience of ordering food and other services. Meanwhile, Zalo, a leading Vietnamese messaging app, has launched its own Zalo Pay, integrating a payment platform into its broader ecosystem. Zalo Pay allows users to handle various transactions, such as bill payments, money transfers, and shopping, directly through the app.

In the competitive landscape of e-wallets, M_Service’s MoMo mobile payment app has emerged as the undisputed leader with an estimated 10 million users. According to a Viet Nam News survey, MoMo is the most popular and widely used e-wallet in the country. As the e-wallet market continues to grow, platforms like MoMo are setting the pace, while others like Grab, Zalo, and Now.vn seek to diversify their offerings in the race to establish themselves as dominant super-apps in Vietnam.

Read also: Fintech | The Rise Of Super App In Asia

WeChat has evolved from a simple messaging app to a massive digital ecosystem that integrates a wide range of services, making it one of the most successful super apps globally. Beyond its social networking features, WeChat now includes mobile financial services, such as payments and money transfers, transportation bookings, like ride-hailing and ticket reservations, and even services like food delivery and online shopping. By combining all these functionalities into one platform, WeChat has transformed into an indispensable tool for many users, enabling them to seamlessly manage various aspects of their personal and professional lives.

Tran Thanh Nam, founder and director of MOCA Technology and Services Corporation, emphasized the changing behavior of consumers in the digital age, noting that “Consumers are increasingly living a modern lifestyle that is accompanied by digital services.” As people continue to adopt digital platforms, they are moving beyond traditional, free social networks and turning to integrated apps that can meet their daily needs. This shift is driving the demand for non-cash payments, as people look for safer, more convenient methods to make transactions—whether it’s for ride-hailing services, food delivery, or e-commerce.

As the Vietnamese mobile payment market continues to expand, the competition is becoming more intense. New players like TrueMoney are entering the space, attempting to offer similar services and capture a share of the growing demand for digital payments. However, the biggest challenge may not come from local startups but from foreign tech giants. Companies like Alibaba, Tencent, and Facebook are increasingly eyeing the Vietnamese market as a high-growth opportunity, leveraging their global reach, large user bases, and financial resources to make a significant impact. This increased competition from foreign players is likely to shape the future landscape of mobile payments and the super app ecosystem in Vietnam, posing both a threat and an opportunity for local platforms.

AgileTech could help you build your own Super Apps platform with:

• High performance and security together with different types of payment gateways.
• We have more than 10 available service mini-apps related to entertainment, hotel – travel – flight services, etc.. which are ready to integrate with your Super App to enrich your Super App services.
• Strong commitment through the warranty period.

Moreover, AgileTech is building 02 Super Apps with huge customer ecosystems about Travel and Young adults (under 30). Promoting your mobile app will help you:

• Accessing to millions of potential users in our Super App ecosystems.
• Tracking user’s behaviors in each mini-app – Measuring marketing statistics.
• The portal mini-center interface will manage all mini-app versions of each developer.

Related articles:

• AirAsia: A Case Study From Airline Brand To ASEAN Super App
• Tata’s Super App: The Rise Of Super Apps In India
• Super App Strategy: How To Make A Profit From Super Apps
• Top 5+ Successful Super Apps Examples In The World 2020