How do I make a payment in Vietnam?

Navigating Payments in Vietnam: Cash, Cards, and a Few Surprises

Vietnam, a land of vibrant culture and stunning landscapes, also presents a unique payment landscape for visitors. While the country is steadily embracing cashless transactions, particularly in tourist areas, cash continues to reign supreme, especially outside major cities. Understanding how payments work will significantly enhance your travel experience, ensuring smooth transactions and avoiding unexpected inconveniences.

The King: Vietnamese Dong (VND)

The Vietnamese Dong is the official currency, and it’s crucial to have it on hand, particularly for smaller vendors, street food stalls, and transactions in rural areas. ATMs are readily available in cities, but accessing them might be more challenging in smaller towns and villages. Many smaller establishments simply won’t accept credit or debit cards. Always carry enough cash, especially for daily expenses like transportation, food from local eateries, and smaller purchases. It’s advisable to carry smaller denominations for easier transactions.

Cards: A Growing but Uneven Presence

While credit and debit cards are becoming more accepted, especially in larger cities and tourist hotspots like Hanoi, Ho Chi Minh City, and popular coastal resorts, their acceptance remains inconsistent. Larger hotels, restaurants in tourist areas, and some shops will readily accept international cards, often Visa and Mastercard. However, even in these locations, it’s wise to have a backup plan, as card machines may malfunction or be unavailable. American Express is less widely accepted.

Tips for Using Cards:

• Inform your bank: Let your bank know you’ll be travelling to Vietnam to avoid any issues with your card being blocked due to unusual activity.
• Check for fees: Be aware of potential foreign transaction fees your bank may charge.
• Contactless payments: While contactless payments are gradually increasing, cash is still the preferred method in many places.
• Online payments: Popular platforms like PayPal might not be widely used for everyday transactions. You’ll be better served by using local e-wallets, which we discuss below.

Exploring Digital Payment Options:

Vietnam is experiencing rapid growth in its digital payment landscape. Several popular e-wallets, such as Momo and ZaloPay, are widely used by locals. While you might not need to use them for every transaction, having one of these on your phone can be advantageous for online purchases or larger transactions in certain establishments. However, downloading and registering for these usually requires a Vietnamese phone number.

Negotiating Prices:

Bargaining is common practice in many markets and with smaller vendors. Don’t hesitate to politely negotiate, especially when purchasing souvenirs or goods from street vendors. Having smaller bills readily available can smooth this process.

In Conclusion:

While Vietnam is modernizing its payment systems, cash remains the most reliable and widely accepted method of payment. Having sufficient Vietnamese Dong on hand will ensure a smoother travel experience, especially outside of major tourist centres. While cards are increasingly accepted in urban areas and tourist hubs, it’s prudent to combine cash with cards for maximum flexibility and avoid any payment-related setbacks during your Vietnamese adventure.