Promoting the trend of cashless payment

Following modern consumption trends, non-cash payment (TTKDTM) with diverse forms such as internet banking, mobile banking, QR code, e-wallet, credit card/debit card... is becoming a popular payment method for many people and businesses.

Enhance customer experience

Nowadays, e-commerce can help people pay for most of their daily necessities, from electricity, water, phone bills, bus/train/airplane tickets, tuition fees to entertainment activities such as watching movies, shopping at supermarkets, convenience stores, and online shopping quickly and conveniently.

Not only has e-commerce become one of the popular payment habits of consumers, but large-scale businesses, retail establishments, traditional markets, even coffee shops, sandwich carts... have also quickly adapted, connecting with service providers using e-wallets Momo, VNPay, ZaloPay, ShopeePay, Viettel Money... contributing to optimizing the payment process of businesses, enhancing the shopping experience for customers.

According to the Department of Industry and Trade, by the end of 2023, the department has coordinated with Viettel Vinh Long to deploy the "Market Model 4.0 - TTKDTM" for small traders at Vinh Long market. To date, more than 240 small traders at Vinh Long market have registered to become TTKDTM acceptance points connected with 30 banks and e-wallets.

Ms. Nguyen Anh My - owner of Khanh Bang shoe kiosk at Vinh Long market said: "Since the COVID-19 pandemic, many customers have switched to online payment. Because now everyone uses phones, thanks to QR code payment, if customers forget to bring money or do not have enough money, they can pay quickly through their phones. I also save time exchanging money and making change."

With just a few simple steps on her mobile phone, Tran Thu Hang (26 years old, residing in Truong An ward, Vinh Long city) quickly bought her favorite item on an e-commerce platform and paid online thanks to linking her personal e-wallet.

Thu Hang said: “TTKDTM not only helps save payment time but sometimes also brings many other practical benefits such as receiving promotions, attractive incentives, vouchers, refunds, points... When buying directly at many business locations today, it is easy to see QR codes, e-wallet numbers decorated with funny images, helping customers feel more excited every time they pay.”

Support and promote digital banking services

In recent times, commercial bank branches in the province have promoted digital transformation, developed modern and convenient e-commerce products and services in accordance with the implementation contents of the headquarters: 24/7 fast money transfer, using QR code, e-wallet, mobile money...

Services have been implemented in the digital environment: savings deposits, opening and using payment accounts, money transfers, consumer loans, production and business loans... Coordinating with service providers, goods, electricity, water, telecommunications, healthcare, education ... to promote the implementation of e-commerce and payments via electronic banking.

Mr. Vo Thanh Tung - Director of Vietnam Joint Stock Commercial Bank for Industry and Trade, Vinh Long branch (VietinBank Vinh Long) said:

“At VietinBank Vinh Long, e-commerce transactions account for 72% of the total value of customer payment transactions at the branch. By the end of 2023, VietinBank Vinh Long has developed more than 500 QR payment acceptance points, developed more than 70,000 customers using VietinBank Ipay with nearly 711,000 transactions conducted on the electronic channel with a transaction value of over VND 9,000 billion, contributing to reducing the pressure of transactions at the counter, increasing the customer experience.

The branch also implements collection solutions for medical and educational activities, providing technology-based products and services with many features similar to "digital financial assistants"...

In the consumer trade sector alone, VietinBank Vinh Long has developed more than 80 POS payment acceptance units, contributing to cost reduction, while improving service quality and bringing convenience to people and businesses.

According to Ms. Truong Thi Oanh - Deputy Director of the State Bank of Vietnam, Vinh Long branch: "Payment activities have been and are being developed with many modern banking products and services, e-commerce has increased sharply, and payment transactions via internet banking and mobile banking have increased.

Many credit institutions continue to apply policies to exempt and reduce service fees when using digital banking services. In the coming time, the provincial banking sector will continue to promote the implementation of the Non-Cash Payment Project for the period 2021-2025 under the direction of the Governor of the State Bank and the Provincial People's Committee.

Deploying solutions to promote digital transformation, contributing to bringing convenience, safety and experience to customers. At the same time, strengthening the work of ensuring security and safety in customer payments and transactions.

According to the State Bank of Vietnam, Vinh Long branch, by the end of 2023, the whole province will have 150 ATMs and 804 POS (an increase of 5 POS compared to 2022). The cumulative number of customers registering to use electronic banking services (internet banking, mobile banking, etc.) is estimated at about 458,400 customers (an increase of 25.5% compared to 2022); the number of transactions will reach about 10.7 million items with a transaction value of 161,700 billion VND.

Article and photos: THAO TIEN

Source