How do people pay for things in Vietnam?

Payment Methods in Vietnam: A Guide for Visitors

Vietnam’s economy is predominantly cash-based, but credit cards are becoming increasingly popular, particularly in tourist areas. Here’s a comprehensive guide to help visitors understand the various payment options available in the country:

Cash:

Cash remains the primary mode of payment in Vietnam, especially for small purchases and in traditional markets. The Vietnamese dong (VND) is the official currency, and it is advisable to exchange currency before arriving in the country. ATMs and currency exchange booths are readily available in major cities.

Credit Cards:

Credit cards are gaining traction in Vietnam, especially in larger cities and tourist destinations. Visa and Mastercard are widely accepted, while American Express and Discover may have limited acceptance. It is important to note that some small businesses and vendors may not accept credit cards, so it is wise to carry cash as a backup.

Debit Cards:

Debit cards with the Cirrus or Maestro logo can be used to withdraw cash from ATMs in Vietnam. However, it is essential to check with your bank regarding any fees or exchange rate charges that may apply.

Mobile Payment:

Mobile payment apps, such as ZaloPay and Momo, are becoming increasingly popular in Vietnam. These apps allow users to make electronic payments, transfer money, and pay bills using their smartphones.

Tipping:

Tipping is not as common in Vietnam as in some other countries. However, small tips (usually 5-10%) are appreciated for good service in restaurants, hotels, and tour guides.

Card Acceptance:

While credit cards are widely accepted in tourist hubs like Ho Chi Minh City and Hanoi, it is still advisable to carry cash for smaller purchases and in more rural areas. Some vendors may only accept cash, especially in traditional markets or for street food.

Exchange Rates:

The exchange rate between the Vietnamese dong and foreign currencies fluctuates frequently. It is recommended to check the current exchange rate before exchanging money or using a credit card.

Conclusion:

Understanding the different payment methods available in Vietnam is crucial for visitors to avoid any inconvenience or unexpected expenses. While cash remains the preferred option for many small purchases, credit cards are becoming more widely accepted, especially in tourist areas. Visitors should be prepared to carry a combination of cash and credit cards to ensure a smooth and enjoyable experience during their stay in Vietnam.