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Vietnam spends US$100 million on in-app purchases in Jan-May

The Saigon Times

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HCMC – Vietnamese users have spent over US$100 million, equivalent to around VND2.3 trillion, on in-app transactions through mobile devices in the first five months of this year, reported the VnExpress news site.

Data from the Ministry of Information and Communications’ report on digital transformation showed that revenue generated from online transactions via mobile applications (in-app purchases) on iOS devices from January to May was 1.5 times higher than on Android devices.

The total value of in-app purchases across both platforms exceeded US$100 million, averaging out at around US$20 million per month.

Vietnam witnessed 1.41 billion app downloads in the first five months of the year, with Android devices accounting for 75% of the total.

Vietnam’s app download figure constituted 2.2% of global mobile app downloads, lower than the 3.4% rate recorded in the same period in 2022.

According to a report by market research company Statista, revenue generated by the mobile application sector in Vietnam reached an estimated US$865 million in 2022 and is projected to reach US$982 million in 2023.

The majority of app downloads and expenditures were related to online games.

Only 22% of applications used by Vietnamese individuals are domestically registered, while the remaining applications come from other countries.

Currently, Vietnamese developers have created 60 applications and mobile platforms with over one million monthly users, including two public service platforms, VNeID and VssID.

Out of these 60 applications, 14 are payment services apps, and another 14 are entertainment service platforms, collectively accounting for 23.33% of the total.

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