A customer pays her bill in Co.op Mart in HCM City with Momo. (Photo courtesy Momo) Hanoi (VNS/VNA) - To prevent the spread of the new strain of coronavirusin Vietnam, customers are encouraged to adopt cashless payment methods.
Somebanks and fintech firms have taken the opportunity to promote the safety ofcashless payments, especially after news that the People’s Bank of China isusing ultraviolet light and high-temperature ovens to disinfect incoming cash.The bank also started replacing old notes with newly minted bills on February 4.
NguyenBa Diep, CEO of Momo, an e-wallet with more than 12 million users, told VietnamNews: "Tests have shown cash harbours a wide variety ofbacteria which can be transmitted by contact. The coronavirus is spread throughnormal contact, so cash is likely to be a risky source."
Diepquoted health experts as saying as 90 percent of people in Vietnam use cash,banknotes are sources of pathogens and pose a threat to public health.
Whilee–wallets like Moca and Airpay promoted the use of online payments, some banksare following suit and telling their customers to switch to online transactionswhile the epidemic continues.
Onits Facebook page, SeABank told its customers to use electronic banking tocheck balances, transfer money and pay bills instead of going to the bank.
OceanBank told its customers to use the #EasyOceanBankMobile if they didnot want to go to a branch.
LeThi Thanh Hang, Deputy Director of the State Bank of Vietnam (SBV)'s Branch inHo Chi Minh City, told local media on February 5 that the SBV has boosted theuse of non-cash payments for a long time.
Sheadded that passing from hand to hand, the banknotes were definitely not clean,adding: “It is advisable to gradually switch to digital payment methods ande-commerce instead of direct exchange with each other using cash during anoutbreak.”
Accordingto banking experts, Vietnam, with a population of 97 million people, is a greatmarket for fintech firms, including e-wallets, as more than 80 percent of theretail market uses cash.
TheDepartment of E-commerce and Digital Economy under the Ministry of Industry andTrade reported an annual growth of 35 percent in the local fintechsector while the 'e.Economy SEA 2019' report by Google, Temasek Holdingand Bain & Co said that digital payments in Southeast Asia areexpected to cross 1 trillion USD by 2025, becoming the payment method fornearly one in two dollars spent in the region./.
VNA
