Gen Alpha and the wallet in the palm of your hand

For young people, managing money is no longer tied to cash, but is now confined to their phones and a few taps. Meanwhile, according to many statistics, in Vietnam, 98% of Gen Alpha have accessed at least one type of financial account: from savings accounts (57%), app store-linked payment accounts (54%), to e-wallets (52%). These figures show that digital finance is no longer a field for adults, but is gradually becoming a basic life skill for the new generation - the first citizens born into a fully connected world .

Unlike Millennials or Gen Z, who had to get used to the internet, Gen Alpha was born surrounded by technology. Digital wallets like Momo, ZaloPay, and ShopeePay, along with platforms for paying tuition fees, purchasing apps, and playing games, have helped Gen Alpha develop the habit of transacting and spending through the digital world early on. This gives Gen Alpha a distinct advantage: they are exposed to financial literacy earlier than any other generation. Many parents no longer give their children cash, but instead transfer money into digital wallets so they can manage their own spending and learn how to budget. On a positive note, this is the beginning of personal financial literacy – an essential life skill in modern society.

However, the downside of convenience is also gradually becoming apparent. With everything contained within a phone, the potential for dependence on technology is higher than ever. A telecommunications outage, network disconnection, or payment system error can bring their lives to a standstill. Along with this, the risk of personal information leaks, financial data theft, and increasingly sophisticated online scams poses significant challenges to the safety of young users.

Generation Alpha is entering life at the speed of technology, but what they need to learn is not just how to use technology, but how to live in balance with it. Knowing how to secure information, distinguish between real and fake in cyberspace, and maintain the ability to adapt when experiencing internet outages or technical disruptions – these are the digital survival skills this generation must cultivate. Because when their wallets, classrooms, friends, and entertainment world are all on the same device, the phone is not just a tool, but a "living ecosystem" for Generation Alpha. And in a world where every transaction is just a touch away, the true strength of young people lies in their ability to control technology, rather than letting technology control them.

LIBRA

Source: https://www.sggp.org.vn/gen-alpha-va-vi-tien-trong-long-ban-tay-post821161.html