On the morning of August 16, at Xom Moi market, Nha Trang City People's Committee held a launching ceremony of the Cashless Payment Market in 4 markets: Xom Moi, Vinh Hai, Dam market, Phuong Son. To make this activity more effective, local banks had previously launched QR Code coverage for small traders.
Go to the market also "scan" the code
After nearly a week of QR Code coverage by banks, coming to Xom Moi market (Nha Trang city) these days, people have seen more QR code printed boards made of many materials such as: paper, wood, mica, plastic laminated, pasted or placed on stalls and stalls. Ms. Ta Thi Ngoc Diep, a confectionery trader at Xom Moi market, has just been given a QR code by the bank. She shared: "Since the QR code, customers only need a few minutes to scan the code with their phone and take the goods. I also don't have to prepare change to give to customers anymore. Now when going to the market, I also scan the code, it's convenient and fast."
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| Staff give QR Code to traders. |
According to data from the State Bank of Vietnam (SBV) Khanh Hoa Branch, after the QR Code coverage campaign of banks in 4 markets: Xom Moi, Vinh Hai, Dam Market, Phuong Son, there were 258 new accounts opened, of which 232 were accounts of small traders, the rest were customers going to the market. Most of the small traders already had personal account numbers, now they just print QR codes for more convenient payment.
Not only Xom Moi market, cashless payment activities at other markets in Nha Trang city in particular and the province in general are becoming more and more popular. The rate of cashless payment in traditional market areas has changed positively in recent times thanks to the contribution of banks, payment intermediaries, and e-wallets. Currently, the whole province has 127 traditional markets, of which Nha Trang city has 25 markets, Ninh Hoa has 25 markets, Dien Khanh has 22 markets, Cam Lam has 20 markets... That shows that there is still a lot of room for developing cashless payment in traditional markets in the province.
Pilot Cashless Payment Market
Despite its many conveniences and increasing coverage, promoting cashless payments in traditional markets is still a long-term campaign, as the habit of using cash is deeply ingrained in the subconscious of many people. On the other hand, in traditional markets, there are many older traders who have little exposure to technology and are afraid of being cheated, so they are reluctant to change. Therefore, localities and credit institutions have stepped up propaganda to help people understand the benefits of cashless payments and gradually change their habits. Implementing Decision No. 5019 dated December 31, 2021 of the Provincial People's Committee on promulgating the Action Program to implement the Project on developing non-cash payments in Vietnam in Khanh Hoa province for the period 2021 - 2025, the State Bank of Vietnam, Khanh Hoa Branch, issued Plan No. 1181 dated November 29, 2023 on building and replicating non-cash payment models in the province and Plan 859 dated August 2, 2024 on piloting the implementation of the Non-Cash Payment Market. Accordingly, the branch coordinated with the Department of Industry and Trade and the People's Committee of Nha Trang City to pilot the Non-Cash Payment Market at 4 markets: Xom Moi, Vinh Hai, Dam Market, and Phuong Son. The People's Committee of Nha Trang City chose Xom Moi Market to organize the launching ceremony of the Non-Cash Payment Market on August 16.
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| Ms. Ta Thi Ngoc Diep (right) instructs customers to scan QR codes to pay for purchases. |
Mr. Do Trong Thao - Acting Director of the State Bank of Vietnam - Khanh Hoa Branch said that the branch has directed commercial banks in the area to synthesize the non-cash payment turnover of traders and business households in the markets during the pilot period of the Non-Cash Payment Market; at the same time, provide the names of business households and traders with the most transactions to summarize and award prizes to encourage and promote electronic payments at the markets. The State Bank of Vietnam - Khanh Hoa Branch will summarize, announce the awarded customers and coordinate with the People's Committee of Nha Trang City and the Market Management Board to award prizes directly at the markets. After the pilot period, the State Bank of Vietnam - Khanh Hoa Branch will summarize, evaluate, draw lessons, report to the Provincial People's Committee on the implementation results; build a model to advise the Provincial People's Committee to direct replication throughout the province.
According to the report of the State Bank of Vietnam, Khanh Hoa Branch, in the first 6 months of 2024, the whole province had 3.6 million domestic payment transactions via the Internet with VND 20,125 billion; payment transactions by mobile phone reached more than 71 million transactions with a total amount of VND 452,210 billion. Compared to the same period in 2023, the number of payments by mobile phone doubled.
MAI HOANG
Source: https://baokhanhhoa.vn/kinh-te/tai-chinh-ngan-hang/202408/thanh-toan-khong-dung-tien-matthay-doi-tu-nhan-thuc-den-thoi-quen-0ff3b74/
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