Wallets/zalopay
ZaloPay
0 standards supported
Overview
ZaloPay is VNG Corporation's e-wallet, deeply integrated with Zalo — Vietnam's largest messaging platform (80.2 million monthly active users Q1 2026) [1, 2, vn-cro]. 2025 performance: ZaloPay active user base +40% YoY + total transaction value +76% + revenue VND 1.111 trillion (+47%).
Q1 2026 acceleration [1]: ZaloPay revenue +117% YoY to VND 216 billion — Vietnamese super-app monetization breakout.
VNG Group context [3]: consolidated net revenue VND 10.894 trillion in 2025 (+17%); 22% from international markets. Zalo's 1.718 trillion VND revenue (+38% via business-model transformation).
History
2017 — ZaloPay launches by VNG [2]: E-wallet sister to Zalo messenger.
2018-2024 — Vietnamese super-app integration [2]: Zalo's 80M+ messenger users → ZaloPay funnel.
2025 — Breakout year [1]: +40% users, +76% tx value, +47% revenue (VND 1.111T).
Q1 2026 — +117% revenue YoY [1]: VND 216 billion.
Ownership & operator
Operating entity: ZION Joint Stock Company — VNG subsidiary operating ZaloPay.
Parent: VNG Corporation — Vietnam's "tech unicorn"; Zalo messenger + ZaloPay + games + cloud.
Regulator: SBV (State Bank of Vietnam).
Technical integration
| Layer | Description |
|---|---|
| Channels | ZaloPay mobile app + embedded within Zalo messenger + merchant QR via VietQR |
| Identifiers | Phone + QR |
| VN rail | vietqr (NAPAS national QR) |
| Zalo messenger integration | 80.2M MAU funnel (Q1 2026) |
| Sub-products | P2P + merchant QR + bill payment + top-ups + games-in-Zalo + ride-hailing + e-commerce |
Users & growth
- Zalo MAU (parent messenger): 80.2M (Q1 2026), 79.6M (2025)
- ZaloPay 2025: +40% active users; +76% tx value; VND 1.111T revenue (+47%)
- ZaloPay Q1 2026: VND 216 billion revenue (+117% YoY)
- VNG Group 2025: VND 10.894T consolidated revenue (+17%); 22% international
Use cases
VN P2P transfers; merchant QR payments via VietQR; bill payments + top-ups; Zalo-messenger-integrated payments; games-in-Zalo monetization; ride-hailing + e-commerce integrations.
Implementations & partners
Operator: ZION Joint Stock Company (VNG subsidiary).
Parent: VNG Corporation — Vietnam's tech leader.
Major VN wallet competitors:
- [[momo-vietnam]] (M_Service; 23M+ active users; VN #1 super-app)
- [[vnpay]] (~40% VN population usage; QR leader)
- ViettelPay (Viettel-led telco wallet)
- [[shopeepay]] (Sea Group)
- [[grabpay]] (Grab Holdings)
Regulator: SBV.
Fun facts
- VNG Corporation = Vietnam's first tech unicorn; Zalo + ZaloPay + games + cloud.
- Zalo messenger 80.2M MAU (Q1 2026) — VN's largest; >82% of VN population.
- 2025 breakout: +40% users, +76% tx value, +47% revenue (VND 1.111T).
- Q1 2026 +117% YoY revenue (VND 216B) — exceptional super-app monetization acceleration.
- 22% VNG international revenue — expansion beyond VN.
Comparison
| Feature | ZaloPay | [[momo-vietnam]] (VN #1) | [[vnpay]] (VN QR leader) | [[wechat-pay]] (China analogous messenger-led) | [[line-pay]] (TH/JP/TW analogous messenger-led) |
|---|---|---|---|---|---|
| Operator | ZION JSC (VNG subsidiary) | M_Service JSC | VNPay | Tencent | LY Corporation (LINE) |
| Type | VN messenger-led super-app (Zalo + ZaloPay) | VN #1 super-app + e-wallet | VN QR-led wallet | China super-messenger + Pay | JP/TH/TW messenger-led wallet |
| Country | Vietnam | Vietnam | Vietnam | China | JP + TH + TW + ID |
| Users | Zalo 80.2M MAU + ZaloPay rapid growth | 23M+ active | ~40% VN population | 1.3B+ | 13.1M registered TW (April 2025) |
| Distinctive | Q1 2026 +117% revenue YoY; messenger-integration with VN's largest platform | VN #1; Mizuho Series E unicorn | QR market dominance (54.67% 2025) | China dominant super-app | Multi-country messenger-led |
Status
Active, VN messenger-led super-app with breakout 2025-2026 growth [1]:
- ZaloPay (ZION JSC, VNG subsidiary) since 2017.
- Zalo 80.2M MAU + ZaloPay +40% users / +76% tx / +47% revenue (2025).
- Q1 2026 +117% YoY revenue (VND 216B).
- SBV-regulated.
Sources
- 1 VNG Zalo + ZaloPay revenue — Tuổi Trẻ
- 2 ZaloPay VN super-app — Quasiinvestor
- 3 VNG Zalo + ZaloPay numbers — Người Lao Động
- 4 ZaloPay for merchants VN — Antom
- vn-cro In-corpus:
reports/countries/VN-vietnam.md
Source
Biography extracted from zalopay.md. See matrix.md for standards-support matrix if present.