Domestic credit card market still has room for growth

SBV statistics show that out of 39 million active credit cards, domestic cards account for just over 811,000, or 8.7% of the country’s total. During this period, the number of active domestic credit cards exceeded 811,400, a 42.5% increase compared to the previous year. Tuan emphasized the advantages of domestic credit cards for consumers, including reasonable card processing fees and costs. According to Tuan, there is ample room for promoting the domestic credit card market in Vietnam, given the relatively low number of these cards currently in circulation. In practice, the development of domestic credit cards has primarily focused on urban areas.