Cashless payments account for over 70 percent of retail transactions in 2021

The COVID-19 pandemic, with its complicated developments, has given a boost to e-commerce, with non-cash payments accounting for 70 percent of total retail transactions in Vietnam last year.

Friday, January 14, 2022 10:48

Cashless payments account for over 70 percent of retail transactions in 2021 ảnh 1

Payment using QR Code (Photo: tapchitaichinh.vn)

Hanoi (VNA) - The COVID-19 pandemic, with its complicateddevelopments, has given a boost to e-commerce, with non-cash paymentsaccounting for 70 percent of total retail transactions in Vietnam last year.

According to a survey of 15,000 retailers by tech firm Sapo, cashless payments in2021 made up 72.8 percent of total transactions, up 9 percent year-on-year.

Payments through bank accounts became the most popularmethod, accounting for 36.5 percent of total transactions at retail shops,restaurants and cafés followed by cash (29.8 percent), e-wallets (14.8percent), QR code (9.9 percent), bank cards (8.5 percent) and payment gateways(0.5 percent).

Notably, 89.3 percent of retailers have positive assessmentson non-cash payments, considering them a trend at present and in future.

New cashless payment tools are expected to be launched inthe time to come to reduce difficulties currently facing some retailers./.

VNA

#COVID-19 #e-commerce #non-cash payments #Sapo #cashless payments #Vietnam #Vietnamplus #Vietnam News Agency

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