Vietnam pushing digital payments between businesses

As one of the fastest-growing economies in Southeast Asia and with considerable volumes of FDI, Vietnam is adopting modern technology to enhance digital payments nationwide, global digital payment provider Visa has reported.
Vietnam pushing digital payments between businesses ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNA) - As one of the fastest-growing economies inSoutheast Asia and with considerable volumes of FDI, Vietnam is adopting moderntechnology to enhance digital payments nationwide, global digital paymentprovider Visa has reported.

Visa’s Country Manager for Vietnam and Laos Dang Tuyet Dung said smalland medium-sized enterprises (SMEs) now account for 98 percent of the 760,000firms in Vietnam, and the application of modern payment methods would help themreach their anticipated levels of growth.

Some 67 percent of SMEs have changed their approach to operations sincethe COVID-19 outbreak struck, with 28 percent launching ads on social media, 27percent selling products and services online, 20 percent arranging contactlesspayments, and 20 percent offering goods delivery.

She introduced the Visa corporate card, which helps firms optimise idle capital,thus saving on costs in the long run.

The card also offers cash redemptionsand promotions to digitalise payments. Over 30 other financial service providersalso offer discounts to card owners./.
VNA

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