Digital payment priority of Vietnamese consumers

Illustrative image (Photo: VNA)

Hanoi (VNA) – In the context of the extensive digitalisation of services as well asmultidimensional impacts of the COVID-19 pandemic, the behaviour andexpectation of Vietnamese consumers have changed, turning digital payment into an evitable trend of the economy and their priority.

The Cashless Day, which has been organised every June 16since 2019, has affirmed its significance and pervasiveness when receivinggreat attention and response of people and enterprises.

This year’s Cashless Day has a series of events, includingDance Cover contest, which kicked off on May 27; two cashless markets, held inHo Chi Minh City Hi-Tech Park on June 4 and Tan Thuan Export Processing Zone onJune 12; a national workshop on "Cashless Day" in Hanoi on June 16;and a cashless bus that will depart from Hanoi on June 19 to Vinh city of NgheAn province, Da Nang, Khanh Hoa province’s Nha Trang city and arrive in Ho ChiMinh City on July 3.

A man using cashless payment service at Binh Duong's public administrative centre (Photo: VNA)

The event’s purpose is to respond to the national digital transformationstrategy set out by the Government, starting with changes in payment.

To meet requirements of the non-cash trend, the bankingsector has invested more in payment infrastructure and information technology.

In the first four months of this year, cashless transactionsincreased by 32.37 percent in value. The country now has over 347,000 Points ofSale (POS) and more than 100,000 points that accept payments through QR Code./.

VNA