Revenue
Localization
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Vietnam’s game-winning era
September 17, 2025•6 min
Vietnam’s video game industry has changed from a regional contender to a global powerhouse. In the first half of 2025, studios in Vietnam generated more than 42 million downloads; nearly a quarter of all puzzle game downloads in Western Europe. On the global stage, the country has already surpassed long-time leaders China, the U.S., and Turkey in mobile game exports, with 6.7 billion downloads, 700 million more than China.
This rapid climb isn't a one-time spike; it is a sustained increase. Industry analysts estimate that Vietnam’s game market will exceed $430 million in revenue by 2025 and continue to climb, supported by a young, mobile-first population, inexpensive user acquisition, and a surge of new studios eager to reach global players. For international publishers, developers, and investors, Vietnam is more than an APAC market to watch from the sidelines; it’s one to engage with directly.
Vietnam's payment landscape is fragmented. A 2022 Visa report found that 95% of Vietnamese consumers use some form of cashless payment; however, cash remains the dominant payment method in everyday transactions, accounting for approximately 90% of purchases. In gaming, historical data shows 85% of paying players used prepaid phone cards, 10% used domestic bank cards, and only 5% used Visa or Mastercard. By 2023, bank account ownership had risen to 42%, up from 31% in 2014; however, digital wallets and local schemes still dominated, with 31% of users using e-wallets, 27% using cards, 21% using bank transfers, and 18% using cash.
For international publishers, this fragmented system creates friction. Games that fail to support local payment methods risk alienating the majority of potential players. Likewise, cross-border payment disputes, privacy concerns, and regulatory hurdles add further complexity to the process.
Vietnam has popular payment methods like MoMo, ZaloPay, Napas, and domestic card schemes, collectively making up 87% of transactions. Having this local coverage is essential in a market where reliance on prepaid cards and e-wallets far outstrips global norms. In addition, Xsolla covers global payment methods like VISA, Mastercard, and JCB, with additional localized payment methods to be offered soon.
Beyond payments, Xsolla’s broader ecosystem includes tools for game distribution, monetization, user acquisition, and compliance. By operating as MOR, Xsolla not only ensures that publishers can process payments locally but also absorbs the operational risks associated with taxation, disputes, and international transfers. For studios seeking scale without building local infrastructure, this dramatically lowers barriers to entry.
This rapid climb isn't a one-time spike; it is a sustained increase. Industry analysts estimate that Vietnam’s game market will exceed $430 million in revenue by 2025 and continue to climb, supported by a young, mobile-first population, inexpensive user acquisition, and a surge of new studios eager to reach global players. For international publishers, developers, and investors, Vietnam is more than an APAC market to watch from the sidelines; it’s one to engage with directly.
Vietnam's market by the numbers
The financial trajectory is striking. According to Statista Market Insights, Mobile adoption and rising connectivity fuel growth, supported by affordable data access. Vietnam’s gaming market revenue increased from $192 million in 2017 to nearly $1.5 billion in 2024, with projections exceeding $2.6 billion by 2030. Vietnam’s current gaming market size is valued at $472 million, with $322 million from PC/console games and $150 million from mobile games. At the player level, spending habits reveal a market still maturing. Average annual spending on recreation and culture in Vietnam is $42, with only $5 allocated to games. This nominal spend is offset by Vietnam’s massive player base and low acquisition costs. The average user acquisition cost for a mobile game is just $0.10, dramatically lower than in markets like Japan or the U.S. Device usage further underscores the country’s mobile-first identity, with 61.7% of players using Android and 37.3% using iOS. This heavy mobile use, coupled with a highly engaged youth demographic, explains why Vietnam has become the world’s leading exporter of mobile games.
Payment realities and monetization challenges
Monetization remains our industry’s most pressing challenge. The average revenue per user (ARPU) is approximately $12, which is well below the global average. Several factors contribute to this: Many players in Vietnam prefer free-to-play (F2P) or casual titles and are reluctant to make even small in-app purchases, including ad removal. Additionally, bank card penetration among young gamers remains low.
Vietnam's payment landscape is fragmented. A 2022 Visa report found that 95% of Vietnamese consumers use some form of cashless payment; however, cash remains the dominant payment method in everyday transactions, accounting for approximately 90% of purchases. In gaming, historical data shows 85% of paying players used prepaid phone cards, 10% used domestic bank cards, and only 5% used Visa or Mastercard. By 2023, bank account ownership had risen to 42%, up from 31% in 2014; however, digital wallets and local schemes still dominated, with 31% of users using e-wallets, 27% using cards, 21% using bank transfers, and 18% using cash.
For international publishers, this fragmented system creates friction. Games that fail to support local payment methods risk alienating the majority of potential players. Likewise, cross-border payment disputes, privacy concerns, and regulatory hurdles add further complexity to the process.
Vietnam's regional and global context
Vietnam’s rise is reshaping Southeast Asia’s gaming map. Statista reports Vietnam steadily closing in on regional leaders Thailand and Indonesia. Globally, Vietnam’s 6.7 billion game downloads rank it first among mobile game exporters, ahead of countries long considered untouchable in scale. For global publishers, the implications are twofold. First, Vietnam’s domestic market, although smaller in terms of per-user spend, offers a large, young, and affordably acquired audience. Second, Vietnamese studios have proven to be successful exporters, producing content that resonates across markets, particularly in Europe. It is this dual role (as both consumer and creator) that positions Vietnam as a pivotal player in global gaming supply chains.How Xsolla lowers barriers for publishers
While opportunities are abundant, executing in Vietnam requires navigating fragmented payments, complex regulations, and cultural nuances. Confronting and overcoming these challenges is made easier with Xsolla. Xsolla offers publishers a turnkey solution for entering and scaling the market.
Vietnam has popular payment methods like MoMo, ZaloPay, Napas, and domestic card schemes, collectively making up 87% of transactions. Having this local coverage is essential in a market where reliance on prepaid cards and e-wallets far outstrips global norms. In addition, Xsolla covers global payment methods like VISA, Mastercard, and JCB, with additional localized payment methods to be offered soon.
Beyond payments, Xsolla’s broader ecosystem includes tools for game distribution, monetization, user acquisition, and compliance. By operating as MOR, Xsolla not only ensures that publishers can process payments locally but also absorbs the operational risks associated with taxation, disputes, and international transfers. For studios seeking scale without building local infrastructure, this dramatically lowers barriers to entry.
A market ripe for strategic expansion
Vietnam offers what few other markets can: a vast player base, soaring global export profile, and some of the lowest acquisition costs worldwide. Finding a partner to bridge the gap between global systems and local realities, publishers stand to benefit from much untapped potential. Xsolla’s presence in Vietnam offers more than just payments; it delivers a full-stack ecosystem that helps publishers localize monetization, streamline compliance, and optimize revenue in a market that is both promising and difficult to penetrate. For developers eager to scale and established publishers seeking new growth channels, Vietnam in 2025 is not just a shining moment; it is the pinnacle of opportunity.What comes next?
Vietnam’s gaming industry has entered a new era. It now stands as the world’s largest exporter of mobile games and one of the fastest-growing markets in Southeast Asia. The opportunity is real, but so are the hurdles, such as fragmented payments, cultural differences, and low ARPU. For publishers, the answer is to partner with experts who understand both the local context and the global gaming business. As your MoR, we're ready to jump in with an ecosystem of developer-focused tools. Xsolla has all the solutions you need to tap into new markets, create more revenue streams, and elevate your gaming business! Whether you’re ready to launch a new project or expand your game commerce strategy worldwide, reach out to one of our experts and tell us about your unique needs and your vision for growth! Are you eager to jump right in? Bravo! Just register with the Xsolla Publisher Account. Want to see how Xsolla Payments work? Try our demos for a hands-on experience.
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