Visa makes it even easier for tourism payments

Data analysis by Visa Consulting & Analytics delved into the spending patterns and travel behaviours of visitors during Japan’s cherry blossom, or Sakura, season earlier this year, which unveiled a 50 per cent increase in overall inbound tourism spend.

Among them, Japan remains a popular travel destination for many Vietnamese travellers. Visa’s Green Shoots Radar study from June reveals a resurgence in travel from Vietnamese travellers, with 41 per cent of Vietnamese respondents planning leisure trips in the coming six months.

During the cherry blossom season, these travellers had a 22 per cent surge in per-card expenditure, notably in Japanese department stores, pharmacies, and luxury establishments. Most Vietnamese expenditure took place in Tokyo, Osaka, Chiba, and Shizuoka.

Ranking fifth for spending during the season, Vietnamese tourists spent 74 per cent of the total expenditure of Singaporean travellers, and also exceeded the average tourism spending by Southeast Asian and East Asian travellers. Over 45 per cent of their expenditure occurred on the first day of their holiday.

Spending habits varied by income levels. Wealthy travellers allocated 20-30 per cent of their total expenditure on accommodation, and subsequently shift towards shopping experiences on the latter half of the trip. Conversely, budget travellers focused predominantly on dining and shopping.

There is also a rising trend in contactless payments, with a 14 per cent overall usage increase during the period, and Vietnamese travellers increased their use of contactless payments by over 5 per cent. This trend suggests a growing demand for seamless payment solutions, driven by adoption in sectors like restaurants and grocery stores.

Dung Dang, Visa country manager of Vietnam and Laos, said, “The power of data lies in its ability to transform raw numbers into meaningful insights, driving informed decision-making, and strategic planning. In this case, the data has not only provided us with insights into tourist behaviour and spending patterns but also enabled us to identify opportunities for service improvement and targeted marketing at a specific demographic and prefecture level.”

Dang added that solutions such as Visa Destination Insights can empower players in the tourism industry as well as local merchants to predict future behaviours and inform strategic planning.

In addition, Visa remains committed to its annual Cashless Day campaign in Vietnam, which took place on June 16. It is designed to boost knowledge and provide incentives for cashless payments in diverse sectors, including tourism.

In a bid to enrich the travel experience, Visa has joined forces with industry giants like Vietnam Airlines, Japan Airlines, Agoda and Booking.com. These partnerships enable Vietnamese consumers to enjoy additional travel benefits such as discounts and bonus miles on purchases and bookings. Specifically, Visa Commercial cardholders can earn triple bonus rewards when using their Visa Commercial cards to buy Vietnam Airlines flights online.

Visa is also collaborating with VNPAY, a financial services company providing electronic payment solutions in Vietnam, to enhance contactless payment via VNPAY SoftPOS. An NFC-enabled contactless payment solution, it transforms Android 10 and above smartphones into POS devices, enabling tap-to-pay transactions for merchants in Vietnam.

The collaboration extends contactless payment for merchants, who can now use smartphones to process transactions, Apple Pay, Google Pay, and Samsung Pay. Meanwhile, tourists can enjoy a convenient, secure, and contactless payment method, which ensures a seamless travel experience.

Visa supports Cashless Day 2024, accelerating Vietnam's digital payments revolution Visa is continuing to support Vietnam's annual Cashless Day (June 16), aiming to propel the country's digital payment ecosystem.

Visa and VNPAY strengthen partnership to advance contactless payments with VNPAY SoftPOS Visa, a world leader in digital payments, is collaborating with VNPAY, a financial services company providing electronic payment solutions in Vietnam, to enhance contactless payments via VNPAY SoftPOS.