Glossary

A physical network of small shops and merchants that accept deposits and withdrawals for e-wallet services, crucial for financial inclusion in rural Vietnam.

A short-term financing option allowing consumers to purchase items and pay in installments, often interest-free. Growing rapidly in Vietnam's e-commerce sector.

A volatility band drawn two standard deviations above and below a 20-period moving average. When the bands narrow sharply (a "squeeze") volatility is compressed and a breakout often follows; price pushing outside a band signals a strong move in that direction.

A payment method where customers pay in cash when receiving their order. Still widely used in Vietnam, especially in rural areas and for first-time online buyers.

Vietnam's centralized credit bureau that maintains consumer and corporate credit histories, operated under the State Bank of Vietnam.

Online shopping that involves purchasing from foreign sellers. Vietnamese consumers actively buy from platforms like Shopee, Lazada, and international sites.

A State Bank of Vietnam circular on bank card operations (issuing, accepting and paying with cards). Replaced from 1 July 2024 by Circular 18/2024/TT-NHNN. Intermediary payment services such as e-wallets and payment gateways fall under Decree 52/2024/ND-CP and Circular 40/2024/TT-NHNN.

A supply-chain strategy where manufacturers keep operations in China but add production in another country — frequently Vietnam — to diversify risk from tariffs, costs, and concentration. A primary driver of foreign direct investment into Vietnamese manufacturing.

The Comprehensive and Progressive Agreement for Trans-Pacific Partnership, a multilateral free trade pact among 11 Pacific-rim economies including Vietnam. It lowers tariffs and harmonizes trade rules, expanding preferential market access for Vietnamese exports.

Sectors where investment is permitted only if specific conditions are met — foreign ownership caps, minimum capital, licenses, or approvals — listed in an appendix to Vietnam’s Law on Investment. The 2025 reform reduces the count (from 234 toward ~196), easing market entry in many service sectors.

Vietnam's main e-commerce decree from 2013 (amended by Decree 85/2021), covering platform obligations, information disclosure and consumer protection. Replaced from 1 July 2026 by the Law on E-Commerce (Law 122/2025/QH15) and its guiding Decree 248/2026/NĐ-CP.

Digital payment applications that store funds electronically. Major examples in Vietnam include Momo, ZaloPay, ViettelPay, and ShopeePay.

A free trade agreement between the European Union and Vietnam, in force since 2020, that progressively eliminates most tariffs on goods traded between the two. It improves Vietnamese exporters’ access to the EU market and vice versa.

The certificate that formally establishes a company in Vietnam — the equivalent of incorporation — issued after the IRC for foreign-invested entities. It records the company name, registered capital, legal representative, and business lines.

Financial technology — companies using software to deliver payments, lending, wealth, and insurance services. In Vietnam, fintech is led by e-wallets and QR payments, expanding into digital lending and BNPL.

Investment by a foreign company or individual into business operations in Vietnam — building factories, establishing entities, or taking equity. A major driver of Vietnam's manufacturing growth and "China + 1" supply-chain role.

The maximum stake a foreign investor may hold in a Vietnamese company in a given sector, set by WTO commitments and trade agreements. Limits vary by industry; some sectors allow 100% foreign ownership while others require a local partner.

A withholding tax on payments to foreign organizations earning Vietnam-sourced income without a local entity (e.g. services, software, royalties, interest). It combines a corporate-income-tax element (commonly 0.1–10%) and a VAT element (commonly 2–5%), withheld by the Vietnamese payer.

Generational demographics driving Vietnam's digital economy. Gen Z (born 1997-2012) and Gen Y/Millennials (born 1981-1996) comprise the majority of digital-first consumers.

Southeast Asia's leading super-app, dominant in Vietnam for ride-hailing and food delivery. In-app payment is by linked bank card, ZaloPay or MoMo; the Moca wallet it used to rely on closed on 1 July 2024.

The total value of goods sold through a marketplace or platform over a period, before deducting fees, discounts, or returns. The headline metric used to size Vietnam e-commerce platforms like Shopee, Lazada, and TikTok Shop.

A bullish chart pattern where the 50-day moving average rises above the 200-day moving average, signaling strengthening long-term momentum. The opposite — MA50 falling below MA200 — is a "Death Cross", read as long-term weakness.

The OECD Pillar Two rule requiring multinational groups with €750m+ consolidated revenue to be taxed at an effective rate of at least 15% in each country. Vietnam adopted it via Resolution 107/2023/QH15 (effective 1 Jan 2024); where tax incentives push the effective rate below 15%, a top-up applies.

The approval a foreign-invested project obtains from the provincial investment authority in Vietnam, recording the project’s scope, capital, and location. Traditionally the first step before company registration; the 2025 Law on Investment streamlines it and, in some cases, allows setting up a company without an upfront IRC.

The final step of the delivery process where goods reach the end customer. A critical and challenging component of Vietnam's logistics network, especially in rural areas.

Major e-commerce platform in Vietnam, owned by Alibaba Group. Known for LazMall (branded goods) and cross-border shopping features.

Selling products through live video streams where hosts demonstrate items and viewers buy in real time. A fast-growing channel in Vietnam, driven by TikTok, Facebook, and platform-native livestreams.

Vietnam's largest e-wallet by user base, with approximately 30 million users. Known for its extensive agent network and rewards ecosystem.

Grab's payment partner in Vietnam. Moca closed its e-wallet on 1 July 2024 and now provides payment-intermediary services for Grab, where users pay by bank card, ZaloPay or MoMo.

An online platform that connects many third-party sellers with buyers, handling discovery, checkout, and often logistics. In Vietnam the major marketplaces are Shopee, Lazada, TikTok Shop, and Tiki.

The average closing price of a stock over a fixed number of sessions, recalculated each day to smooth out noise and reveal trend. Common windows are MA20 (short term), MA50 (medium), and MA200 (long term); price trading above its MA200 is widely read as a long-term uptrend.

A trend-and-momentum indicator built from the difference between a 12-period and 26-period EMA (the MACD line) and its 9-period EMA (the signal line). The MACD line crossing above the signal line is a bullish short-term cue; crossing below is bearish.

National Payment Corporation of Vietnam. The national payment switch that handles interbank transfers, QR standardization, and ATM/POS switching.

Digital-only banks without physical branches. Examples in Vietnam include Timo, Cake by VPBank, and LiveBank, offering mobile-first banking experiences.

A momentum oscillator from 0 to 100 that compares the size of recent gains to recent losses, usually over 14 sessions. Readings above 70 are considered overbought (correction risk) and below 30 oversold (potential rebound); the 40–65 band is often treated as healthy neutral momentum.

A mobile application that integrates multiple services—messaging, payments, ride-hailing, food delivery, and more. Grab and Zalo are leading examples in Vietnam.

The central bank of Vietnam responsible for monetary policy, banking regulation, and payment system oversight.

The leading e-commerce marketplace in Vietnam by traffic and GMV, owned by Sea Group (Singapore). Features integrated payment system ShopeePay.

Small and medium-sized enterprises — the backbone of Vietnam's economy by business count and employment. Many Vietnamese online sellers and merchants are micro-SMEs operating on marketplaces and social platforms.

Vietnam-born e-commerce platform, originally focused on books, now expanded to general merchandise. Known for TikiNow fast delivery service.

A multi-year residence permit allowing a foreigner to live in Vietnam without renewing a visa repeatedly. Foreign workers usually obtain a work permit (or exemption certificate) first, then apply for a TRC whose validity tracks the work permit; it can extend to dependents in defined cases.

A standardized QR code system for payments in Vietnam, enabling interoperability between banks and e-wallets for instant bank transfers.

A major payment service provider in Vietnam offering QR code solutions, payment gateways, and banking app integrations.

E-wallet backed by state-owned Viettel Group (Vietnam's largest telecom), with strong presence in rural and remote areas leveraging Viettel's network.

The document granting a foreigner the legal right to work in Vietnam, generally issued to managers, executives, experts, and technical workers for up to two years and tied to a specific employer and role. Governed by Decree 219/2025/ND-CP (which replaced Decrees 152/2020 and 70/2023).

An e-wallet integrated with Zalo, Vietnam's most popular messaging app, enabling social payments and transfers.