Vietnamplus

Vietnam’s digital economy is expected to reach 14 billion USD in 2020, a year-on-year increase of 16 percent, and will likely reach 52 billion USD in 2025, re-accelerating to nearly 29 percent in compound annual growth rate, according to a report from Google, Temasek and Bain & Company.

Visa and NextTech Group on November 4 signed a three-year partnership to promote the adoption of digital payments among small business owners in Vietnam’s rapidly growing social commerce sector.

Previously, online shopping mainly focused on clothing and home appliances products; now customers can get "fresh" items with only a few clicks.

In a recent Kantar’s report (entrusted by Visa), up to 62 percent of Vietnamese consumers confirmed that the number of their transactions on online shopping platforms has seen a remarkable surge.

Findings from a recent Visa Consumer Payment Attitudes survey showed 37 percent of Vietnamese consumers are now using contactless card payments.

The value of electronic money transactions in the Philippines surged by 36.2 percent to 1.48 trillion peso (over 29.5 billion USD) in 2019 from 1.09 trillion peso in 2018.

Vietnamese e-wallets have lured hefty sums from diverse partners over the past time, turning the segment into one of the investment hotspots.

To prevent the spread of the new strain of coronavirus in Vietnam, customers are encouraged to adopt cashless payment methods.

An economic expert has said e-wallet firms are breaking out promotions to try and win large chunks of the high potential market in Vietnam.

Vietnamese financial technology startups are quickly catching up with Singapore in attracting Southeast Asian venture capital funding, according to the Japan-based Nikkei Asian Review.

Increased use of digital payments has the potential to add 72 million USD annually to central Da Nang city’s economy, according to the latest study from Visa, “Cashless Cities: Realising the Benefits of Digital Payments".

The number of non-cash payments in Vietnam has steeply risen so far this year.

The State Bank of Vietnam is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.

The State Bank of Vietnam (SBV) is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.

The growth of the number of people making mobile payments in stores in Vietnam is at the fastest, according to the Global Consumer Insights Survey 2019 by PwC.

A change in payment methods is taking place in Vietnam from payment in cash and by cards to a digital and mobile manner.

Vietnamese consumers are embracing digital payments as a faster and more convenient way to pay, with consumers using their credit and debit cards more often for in-store and online purchases, digital payment methods provider Visa said recently.

Embracing the digital transformation is critical for Vietnamese bankers in the era of Industry 4.0, experts said during the 2019 Asian Banker Conference in Hanoi on January 10.

The 24th APEC Finance Ministers’ Meeting – the most important event of the APEC Finance Ministers Process - closed in Hoi An ancient city in the central province of Quang Nam on October 21 after issuing a joint ministerial statement.

The Vietnam Bank for Social Policies (VBSP) has launched a mobile banking service designed to improve the access of disadvantaged people.