Moves taken to promote cashless payment in Vietnam

To encourage Vietnamese consumers and businesses to apply digital payment, Visa, a world leading e-payment technology company, has expanded activities in response to the annual Cashless Day in Vietnam (June 16).
Moves taken to promote cashless payment in Vietnam ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) – To encourageVietnamese consumers and businesses to apply digital payment, Visa, a world leadinge-payment technology company, has expanded activities in responseto the annual Cashless Day in Vietnam (June 16).

Dang Tuyet Dung, Director ofVisa Vietnam and Laos, said her company has cooperated with retailers to offergifts to consumers using Visa contactless cards and shopping on e-commerceplatforms, and promotional prices at some stores for contactless card users.

To accelerate digitaltransformation by small- and medium-sized enterprises (SMEs) in Asia-Pacific, itlaunched the Acceptance Fast Track Programme. Small firms in Vietnam can startaccepting digital payment in just a few minutes thanks to new solutions andimproved approval process of Visa.

Visa Business Solutionsprovide enterprises a set of tools for gaining success and improvingoperational efficiency in the era of modern commerce. Meanwhile, SMEs can alsoaccess resources on Visa’s Practical Business Skills platform, which gives themnecessary knowledge about how to start, manage, and develop a business, Dungadded.

Moves taken to promote cashless payment in Vietnam ảnh 2Officials launch the “Cashless Payment Street - Hai Chau 2022” programme on June 16. (Photo: VNA)
On June 16, the PeopleCommittee of central Da Nang city’s Hai Chau district, the Vietnam E-commerceAssociation, and Momo - an e-wallet service supplier launched the “Cashless PaymentStreet - Hai Chau 2022” programme so as to stimulate local shopping demandusing digital technology.

The programme is implementedon Tran Van Tru, Nguyen Van Linh, Le Dinh Duong, and Phan Chu Trinh streets,involving stores and businesses operating in different sectors.

The local administrationtargets that at least one street will have all stores applying cashless paymentmethods.

A Visa survey in 2021 revealedthat nearly half of Vietnamese consumers are using contactless cards. Though theCOVID-19 pandemic has showed signs of easing, 74 percent of the intervieweessaid they will still shop on large e-commerce platforms, and that even whendirectly going shopping, they also hope digital payment methods will still beapplied at traditional stores./.
VNA

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