# ZaloPay

> Source: https://docs.barcoder.ai/docs/wallets/zalopay
> research date 2026-05-29 · extracted at 2026-10-03
> Publisher: Barcoder — encyclopedia of QR, barcode and payment-code standards

Specifications:
- [ZaloPay — official](https://zalopay.vn/)

## 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**) <sup>[1][1], [2][2], [Viet Nam report](https://docs.barcoder.ai/docs/payments/VN)</sup>. **2025 performance**: ZaloPay **active user base +40% YoY** + **total transaction value +76%** + **revenue VND 1.111 trillion (+47%)**.

**Q1 2026 acceleration** <sup>[1][1]</sup>: **ZaloPay revenue +117% YoY to VND 216 billion** — Vietnamese super-app monetization breakout.

**VNG Group context** <sup>[3][3]</sup>: 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** <sup>[2][2]</sup>: E-wallet sister to Zalo messenger.

**2018-2024 — Vietnamese super-app integration** <sup>[2][2]</sup>: Zalo's 80M+ messenger users → ZaloPay funnel.

**2025 — Breakout year** <sup>[1][1]</sup>: +40% users, +76% tx value, +47% revenue (VND 1.111T).

**Q1 2026 — +117% revenue YoY** <sup>[1][1]</sup>: 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](https://docs.barcoder.ai/docs/standards/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

**2025-Q1 2026 baseline** <sup>[1][1], [3][3]</sup>:
- **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)](https://docs.barcoder.ai/docs/wallets/momo-vietnam)** (M_Service; 23M+ active users; VN #1 super-app)
- **[VNPay](https://docs.barcoder.ai/docs/wallets/vnpay)** (~40% VN population usage; QR leader)
- **ViettelPay** (Viettel-led telco wallet)
- **[ShopeePay](https://docs.barcoder.ai/docs/wallets/shopeepay)** (Sea Group)
- **[GrabPay](https://docs.barcoder.ai/docs/wallets/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)](https://docs.barcoder.ai/docs/wallets/momo-vietnam) (VN #1) | [VNPay](https://docs.barcoder.ai/docs/wallets/vnpay) (VN QR leader) | [WeChat Pay](https://docs.barcoder.ai/docs/wallets/wechat-pay) (China analogous messenger-led) | [LINE Pay](https://docs.barcoder.ai/docs/wallets/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** <sup>[1][1]</sup>:
- **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]: https://tuoitre.vn/vng-lan-dau-cong-bo-doanh-thu-nghin-ti-cua-zalo-va-zalopay-20260401153349217.htm "VNG VND 1000B+ revenue Zalo + ZaloPay — Tuổi Trẻ"
[2]: https://www.quasiinvestor.com/zalopay-the-vietnamese-super-app/ "ZaloPay VN super-app — Quasiinvestor"
[3]: https://nld.com.vn/tap-doan-vng-he-lo-con-so-gay-bat-ngo-ve-zalo-va-zalopay-196260504202724284.htm "VNG Zalo + ZaloPay numbers — Người Lao Động"
[4]: https://knowledge.antom.com/zalopay-for-merchants-vietnam "ZaloPay for merchants VN — Antom"
[vn-cro]: https://docs.barcoder.ai/docs/payments/VN

- [1] [VNG Zalo + ZaloPay revenue — Tuổi Trẻ][1]
- [2] [ZaloPay VN super-app — Quasiinvestor][2]
- [3] [VNG Zalo + ZaloPay numbers — Người Lao Động][3]
- [4] [ZaloPay for merchants VN — Antom][4]
- <sup>[Viet Nam report](https://docs.barcoder.ai/docs/payments/VN)</sup> In-corpus: `reports/countries/VN-vietnam.md`

## Source

Biography extracted from [zalopay.md](https://docs.barcoder.ai/source/wallets/zalopay). See `matrix.md` for standards-support matrix if present.