By 2028, the Asia-Pacific region is projected to reach 1.5 trillion non-cash transactions, according to Research and Markets. KPMG’s report further highlights that digital wallets will dominate 66% of point-of-sale (POS) transactions by 2027, up from 50% in 2023.
PwC’s analysis reveals that as the digital payment landscape becomes more competitive and fragmented, success hinges on accessibility, simplicity, and affordability. Artificial intelligence (AI) is playing a pivotal role in enhancing fraud prevention, credit access, and operational efficiency, reshaping the payments industry.
At the Singapore Fintech Festival (SFF), held from November 12-14, Visa announced significant advancements in its Visa Intelligent Commerce platform across Asia Pacific. This initiative accelerates the region’s adoption of agentic commerce, where AI-powered agents handle shopping and payments on behalf of consumers. These AI agents, integrated into familiar platforms, will leverage Visa’s 4.8 billion credentials to transact at millions of global merchant locations.
Central to Visa Intelligent Commerce is the Trusted Agent Protocol, which enables merchants to verify AI agents with genuine commerce intent, addressing growing concerns as AI-driven online traffic increases.
Over the past year, AI-driven traffic to retail websites has surged by over 4,700%, with 85% of shoppers reporting an improved experience. Visa plans to launch Visa Intelligent Commerce pilots across Asia Pacific, including Vietnam, by early 2026, contingent on regulatory and ecosystem readiness.
Stephen Karpin, President of Visa Asia Pacific, emphasized that trust is paramount for widespread adoption. While some users are eager to embrace AI-driven payments, others may follow later. “The real power lies in trust,” Karpin noted. “If consumers and merchants trust Visa Intelligent Commerce, scaling will happen rapidly.”
“Trust remains fundamental,” he added. “Consumers are already showing strong interest, even before a full rollout. Ensuring legitimate agents enter the ecosystem is crucial, signaling a disruptive phase for businesses as AI agents take over both sides of transactions.”
At SFF, Visa also launched its Visa Scan to Pay solution for QR payments, significantly expanding acceptance across Asia Pacific.
Three Vietnamese entities have partnered with Visa to broaden payment options. Visa Scan to Pay is supported by collaborations with bank apps, digital wallets, and QR payment providers, including Samsung Wallet, LINE Pay, VNPT Money, Woori Card, Hyundai Card, Lakala, FOMO Pay, VNPAY, NextPay, and OpenRice.
In Vietnam, the State Bank of Vietnam (SBV) reported a 43.32% increase in non-cash transaction volume and a 24.23% rise in value during the first nine months of 2025 compared to the same period in 2024. Internet transactions grew by 51.2% in volume and 37.17% in value, while mobile transactions increased by 37.37% in volume and 21.79% in value. Notably, QR code transactions surged by 61.63% in volume and 150.67% in value, underscoring the growing preference for convenient payment methods.
In an interview with VnEconomy / Vietnam Economic Times, T.R. Ramachandran, Senior Vice President and Head of Products at Visa Asia Pacific, highlighted Southeast Asia’s central role in Visa’s vision as one of the world’s fastest-growing digital economies. “Vietnam is a strategic priority market for Visa,” he stated. “It’s not just about scale but the pace of change. Vietnam offers a dynamic environment where we collaborate with leading banks and fintechs to develop and deploy advanced solutions. Vietnam is not just a recipient of innovation but a critical partner in shaping the future of payments globally.”
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