Accelerating cashless payments

Non-cash payments are becoming an inevitable trend in economic and social life. This activity not only brings convenience to people, increases transparency in management, but also contributes to building a more modern, civilized and efficient economy.

People form the habit of paying without cash.

Breakthrough point - market 4.0

The 4.0 market model is a “breakthrough” that brings digital payments from urban areas to traditional markets and rural areas. To date, the province has deployed 127 4.0 markets.

Through the training sessions on installation, use of Mobile Money, and QR code generation, Thai Nguyen has had 513,422 customers, along with more than 9,300 payment acceptance points. The expansion of "digital touch points" right at stalls, pharmacies, and grocery stores makes the habit of electronic payment more accessible, especially for small traders and the elderly.

“I was used to using cash so I was hesitant at first. After that, most customers wanted to scan the code for convenience. It was difficult to sell without a QR code, so I applied it and found it easier than I thought. Now selling is quick and convenient, without having to mess around with changing small change,” said Ms. Vu Thi Xuan, a vendor at Dong Quang market.

The benefits of cashless payments are clear for buyers: Save time, reduce transaction costs, easily manage expenses, access many flexible options. For sellers: Expand customer base, increase revenue, reduce cash risks, optimize cash flow control.

At the system level, electronic payments contribute to reducing costs of printing, transporting and circulating cash, attracting idle capital into the banking system, improving the effectiveness of corruption prevention and control, and promoting the construction of e -government .

Not only that, promoting cashless payments also creates conditions for digital services to develop synchronously, from e-commerce, tourism , logistics to smart urban management applications.

Digital habits in the community

The customer service area at VietinBank Thai Nguyen supports hundreds of middle-aged and elderly customers every day.

Implementing Decision No. 1813/QD-TTg of the Prime Minister, the State Bank of Region V has advised the People's Committee of Thai Nguyen province to issue a Plan on developing non-cash payments in the province for the period 2022-2025; directing commercial banks in the area to perform well in payment via banks, invest in technical infrastructure, and modern software programs serving electronic payments.

At the customer service area of ​​Vietnam Joint Stock Commercial Bank for Industry and Trade - Thai Nguyen Branch (VietinBank Thai Nguyen), every day there are over 250 middle-aged and elderly customers coming to transact, learn and receive support in using digital products. Thanks to the companionship and enthusiastic guidance of the bank staff, many elderly customers have gradually become familiar with digital banking applications, such as: VietinBank iPay, QR payment, online transfer...

Mr. Phan Viet Phuong, Director of VietinBank Thai Nguyen, said: VietinBank expands ATM network at factories and enterprises; installs POS at shopping centers, supermarkets, schools, and hospitals; at the same time, strongly develops digital banking, such as: VietinBank iPay, eFast, integrated with e-wallets MoMo, ZaloPay, ShopeePay. VietinBank also deploys payment software at schools and hospitals through trusted partners and enhances security solutions and transaction monitoring to ensure customer safety.

Thai Nguyen's population is characterized by tens of thousands of industrial park workers and tens of thousands of students, creating a favorable foundation for forming "digital habits". To date, the whole province has more than 1.4 million payment accounts that have been biometrically verified with chip-based citizen identification cards or VNeID accounts. According to the State Bank of Region V, the total number of personal and organizational payment accounts in the area has reached 2.4 million.

From habits to behavior, from convenience to acceptance, the market is adjusting itself to suit the new payment method. This is the important foundation for Thai Nguyen to gradually realize the goal of becoming a modern, dynamic economic center of the Northern midland and mountainous region.

Source: https://baothainguyen.vn/kinh-te/202509/tang-toc-thanh-toan-khong-dung-tien-mat-ab00a8f/