The trend of cashless payment in Vietnam is increasing rapidly.

At the press conference announcing a series of events in response to Cashless Day 2023, jointly organized by the State Bank and Tuoi Tre Newspaper, speakers all stated that the trend of cashless payments is increasing strongly in Vietnam.

Mr. Pham Anh Tuan, Director of the Payment Department - State Bank shared that cashless payment activities have never developed as strongly as they do now. All people's destinations such as supermarkets, restaurants, shops, traditional markets or sidewalk tea shops... all have cashless payment services.

Among non-cash payment methods, the QR code method has the strongest growth rate in both quantity and value. The number of payments each year is always many times higher than the previous year. The QR code method in 2022 increased by more than 225% in quantity and 244% in value compared to 2021.

Mr. Pham Anh Tuan, Director of Payment Department - State Bank.

In the first 3 months of 2023, non-cash payment transactions increased by 53.5% in volume compared to the same period last year. Of which, payments via the internet channel increased by more than 88% in volume and 7.4% in value; payments via mobile phone channels increased by 65.5% in volume and 13.3% in value.

Notably, payments via QR code increased the most with 160.7% in quantity and 43.8% in value; payments via POS machines increased by 37.5% in quantity and 32% in value. In particular, transactions via ATM decreased by 2.73% in quantity and 4% in value.

" The above figures show that cashless payment methods from QR codes, payments via phone, and via the internet are familiar to consumers. At stores, coffee shops, noodle shops, vegetable and meat stalls at traditional markets... sellers all have QR codes so that customers can pay easily and conveniently," Mr. Tuan emphasized.

According to Mr. Tuan, the State Bank and the Ministry of Public Security will focus on implementing the Project on developing applications of population data, identification and electronic authentication to serve national digital transformation in the period of 2022 - 2025, with a vision to 2030. The units will focus on the task of connecting and exploiting the National Population Database to clean customer data and serve the professional activities of the banking industry.

As of April 2023, the State Bank has coordinated with the Ministry of Public Security to complete the authentication of more than 25 million loan customer credit information with the National Population Database.

At the press conference, Mr. Bui Ta Hoang Vu, Director of the Department of Industry and Trade of Ho Chi Minh City, said that in recent times, the Department of Industry and Trade of Ho Chi Minh City has also made continuous efforts to connect and have more people participate in the trend of cashless payment, focusing on trade services and public services.

Currently, the Department of Industry and Trade has 110 public administrative services, but up to 109 level four online public services have been deployed. Cashless payments are also popular with all officers and employees.

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Source: https://vtc.vn/tang-manh-xu-huong-thanh-toan-khong-dung-tien-mat-o-viet-nam-ar785485.html