As soon as Apple Pay officially launched in Vietnam, the super app Momo announced that from now until the end of August, customers who use MoMo wallet for the first time to scan VietQR code to transfer or pay for goods and services will receive a 10% refund. This is a promotion to attract users to scan payment codes after MoMo officially exempts transaction fees for transfer or payment when using this wallet to scan VietQR code (bank QR code) with a maximum limit of 10 million/month, with no limit on the number of transactions.
Meanwhile, ZaloPay wallet competes to attract customers with a multi-purpose QR code that accepts all payments, allowing users to use any banking application or ZaloPay to scan the code. Accordingly, business households, small traders or enterprises do not need to change the way they operate but still receive, manage and reconcile money sources from banks with the same accuracy as when customers pay via e-wallet.
According to the latest statistics from the Payment Department, State Bank, in the first 6 months of 2023, the number of cashless payment transactions continued to grow quite high, over 51% over the same period last year. Among electronic payment methods, the method using QR codes had the highest growth, increasing by nearly 136% in quantity.
Users have many options for cashless payment channels at the present time.
Not only payment, a few days ago, Vietnam National Payment Corporation (Napas) coordinated with member banks to officially launch the VietQRCash service. This service allows Napas cardholders to use the Mobile Banking application of 8 banks including BIDV, VietinBank, Vietcombank, Agribank , Saigonbank, Sacombank, NCB and Nam A Bank to withdraw money on the ATM system of 6/8 banks (except for the ATM system of NCB and Nam A Bank not yet applied in the first phase), through the method of scanning the VietQR code without having to carry a physical card.
The first banks to deploy VietQRCash service account for more than 60% of the total number of ATM cards currently on the market. The limit and transaction fee for withdrawing money from the network at ATMs via VietQR are applied similarly to other common cash withdrawal methods, commonly the fee is 3,300 VND/transaction and the maximum is 5 million VND/internet VietQR code scan...
With nearly 75% of Vietnamese adults having a bank payment account and more than 3.7 million Mobile-Money accounts opened, QR code payment methods are expected to continue to grow by nearly 100% this year.
According to some financial experts, cashless payment channels have never been as vibrant and bustling as they are now. Not only QR code scanning, recently the new payment method Apple Pay officially available in Vietnam has also attracted the attention of users.
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