Vietnamplus

Measures to expand the use of cashless payments in rural and far-flung areas were discussed at a seminar hosted by the Government News on December 13.

The cashless payment system is prevalent worldwide. Going cashless has a lot of benefits for Vietnam, improving transaction safety and making it easier for the State to track transactions and facilitate tax collection.

The Hanoi Department of Industry and Trade held a cashless payment event with a view to helping drive e-commerce, technology application, and digital transformation.

The Hanoi Department of Industry and Trade held a cashless payment event on July 21 with a view to helping fuel e-commerce, technology application and digital transformation.

The COVID-19 pandemic has been brought under control, and life for most people returned to normal. However, non-cash payments, encouraged during the pandemic to limit contact, have become popular among many people.

Ha Long city is hoping for an average annual growth rate of 20 - 25 percent in the number and value of cashless payments by 2025.

The banking sector hopes that by 2025, the volume of mobile payment transactions will grow by 50 - 80 percent while transaction value will surge 80 - 100 percent annually.

Cashless payments have become a norm in many countries in recent years, bringing great benefits to individuals in the payment process.

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.

With a few clicks on an e-wallet platform installed on her mobile phone, Do Nhu Hoa, a 38-year-old office worker in Hanoi, can easily pay for her electricity and water bills.

Cashless payments continued to grow fast in the first nine months of 2021 to top 1.6 billion USD, according to a recent report by the Government.

Cashless payments continued to grow fast in the first nine months of 2021 to top 36.28 quadrillion VND (1.6 billion USD), according to a recent report by the Government.

The prolonged COVID-19 pandemic has unexpectedly created "golden" conditions for the financial industry to accelerate digital transformation and shift to cashless payments.

Three mobile network operators - Viettel, VNPT and MobiFone - have applied for the implementation of their own Mobile Money pilot projects.

Non-cash payments have become a new trend in Vietnam over recent times. When shopping or making other transactions, consumers can now use bank cards or mobile payment apps to enjoy preferential policies.

Vietnam is marching towards becoming a cashless society with new methods of electronic payments being deployed widely, but security risks come hand in hand with new technologies and applications.

Demand for deposits by individuals have increased significantly in recent months as people tended to switch to cashless payment methods, especially in the context of the COVID-19 pandemic.

The National Bank of Cambodia (NBC) has urged customers and retailers to use e-wallets and apps to help prevent the spread of COVID-19.

The COVID-19 pandemic in the last half of 2020 saw Vietnamese people download and use more phone applications than in 2019, according to the Mobile Application 2021 report from Appota Group.

Customers using Mobile Money, a freshly-approved pilot project, may be charged a certain fee, according to the Vietnam Telecommunications Authority under the Ministry of Information and Communications.