Shopping in the 4.0 era

Cashless purchasing is booming from cities to rural areas, from shopping malls and supermarkets to traditional markets and retail stores throughout the province. This form of payment not only benefits citizens and businesses but also contributes to the province's digital transformation, creating transparency in spending and transactions.

People pay by scanning QR codes when buying vegetables at a stall in the market area of ​​Quarter 2, Ward 5, Dong Ha City - Photo: HT

Scan the QR code to buy anything.

For the past few years, the number of times Ms. Thanh Nhan, residing in Ward 5, Dong Ha City, has withdrawn cash from ATMs can be counted on one hand. “In the market, from the onion vendor to the meat seller, everyone accepts bank transfers and QR code scanning,” Ms. Nhan said. Previously, after receiving their salaries, she and her husband would keep a portion in their account to pay for their children's tuition and utility bills, withdrawing the rest in cash for expenses because most breakfast eateries and vendors in the market would refuse bank transfers. “But now it’s different; even for items costing only a few thousand dong, vendors accept bank transfers, so I don’t need to carry a lot of cash, and I’m less worried about losing it, having it stolen, or getting it mixed up,” Ms. Nhan shared.

In the final days of the year, while strolling along the main streets of Dong Ha City such as Hung Vuong, Le Quy Don, and Tran Hung Dao, we noticed that the number of people withdrawing money from ATMs was quite sparse compared to previous years.

Ms. Nguyen Thi Thanh Ha, residing in Dong Luong ward, Dong Ha city, who was withdrawing money at an ATM on Tran Hung Dao street, said: "Previously, during the last days of the year, I would go to the ATM from early morning to withdraw cash for personal expenses or Tet shopping. Many times I had to queue for hours waiting for my turn, not to mention when the ATM ran out of money or malfunctioned."

Since the beginning of 2023, I've switched to using internet banking apps and the Momo e-wallet, and everything has become more convenient and less risky. "I still withdraw money from ATMs, but now I only do it occasionally, not as frequently as before."

"I only used cash for snacks and giving lucky money to adults and children during Tet... Since using e-wallets for payments, I don't have to wait, push, or jostle at ATMs, and I'm less worried about being pickpocketed at the market, especially at the end of the year when markets, supermarkets, and shops are always crowded," Ms. Ha said.

In early 2022, Dong Ha Market implemented the "Technology Market - Market 4.0" model. With the advantages of speed, convenience, and accuracy of cashless payments via internet banking applications, the model received support from both traders and consumers. To date, most businesses in the market accept cashless payments via internet banking or QR codes provided by banks.

Cashless payments offer many conveniences to residents of Dong Ha City when shopping and using services - Photo: HT

Having sold household electrical and electronic goods at Dong Ha Market for over 10 years, Ms. Tran Minh Chau, a small business owner at stall number 50-51, shared: "Because most payments are made through digital banking applications, people are hesitant to carry a lot of cash."

With just a phone and a bank account, you can make quick and convenient payments. To make it easier for customers, I also prepare two QR codes for two different bank accounts. I myself no longer have to worry about transferring money to distributors; I just transfer the money and that's it.”

The deployment and expansion of the Market 4.0 model has shaped consumer habits and contributed to achieving the goals of the Quang Tri province's digital transformation plan by 2025, with a vision to 2030. It has made digital payment the primary payment tool for people, from small transactions to large-value transactions in their daily lives.

Promoting cashless payments

Cashless payment is an inevitable trend in the era of Industry 4.0 because this form of payment offers many clear benefits for both people and the economy . First and foremost, cashless payments will significantly reduce costs for the financial sector and prevent tax revenue losses for the State from clandestine or non-transparent transactions.

For the public, this payment method offers convenience when shopping, such as saving time and effort for both the payer and the cashier, and reducing waiting times at the checkout counter. Due to these changes in consumer behavior, businesses, retail stores, restaurants, and hotels in the province have also quickly adapted, installing and using cashless payment applications.

In addition, many banks have launched online services, multi-functional ATMs, etc., with simple operations, making it easier and more convenient for people to use digital banking services.

Cashless payment applications and services, such as QR codes, mobile banking, and e-wallets, are becoming increasingly common. They are not simply for transferring money or checking balances; people can now use them for a variety of conveniences such as paying bills, e-commerce, buying movie tickets, airline tickets, and booking tours . Conversely, people can also indirectly utilize banking services through other product and service providers, such as installment purchases or buy now, pay later options.

Co.opmart Dong Ha supermarket applies cashless payment methods - Photo: HT

Currently, the province has 119 ATMs (including 13 multi-functional ATMs, an increase of 3 compared to 2023); 916 POS machines, with POS payment volume reaching VND 855.51 billion. The QR Code network covers all districts, towns, and cities with more than 45,000 QR Code payment acceptance points located in businesses, retail stores, restaurants, hotels, medical facilities, hospitals, schools, etc., helping people make payments conveniently, quickly, and efficiently.

According to statistics, indicators related to cashless payments such as transaction volume, payment value, infrastructure, etc., have shown strong growth. Currently, this payment method is being more vigorously implemented by the State Bank of Vietnam in coordination with relevant departments and agencies.

It is evident that cashless payments are gradually becoming a new consumer trend for many people and businesses in the area. Cashless payments are also an inevitable trend in the development of the digital economy. To facilitate cashless payments for customers, banks and businesses have implemented various solutions to encourage customers to use them.

Specifically, promotions include discounts on QR code payments, reduced service fees, free home delivery, and continuous updates to new technologies to provide a better experience on the online payment application.

Promoting cashless payments is a goal of the digital society, contributing to the advancement of national digital transformation targets. To promote this, the responsibility lies not only with government agencies and departments but also requires the collective efforts of all citizens.

Autumn and Summer

Source: https://baoquangtri.vn/di-cho-thoi-4-0-190797.htm