QR and NFC payments continue to grow strongly

NFC payment made at a transaction point - Photo: QUANG DINH

Many users, especially young people, almost no longer carry wallets in their daily activities. All daily transactions are done via QR code scanning or NFC payment... For them, everything is on their smartphones. Cashless days are becoming popular with many people.

“It's been a long time since I carried or used cash.”

Working for a media company in District 1, Ho Chi Minh City, Phuong Thanh (living in District 7) regularly books a ride-hailing service to get to work every morning. On the way, Thanh watches the time and orders coffee and breakfast on a delivery app. When she arrives at work, the shipper calls to deliver the goods.

“Car booking, food ordering, delivery and even online shopping services are all paid for through bank accounts or e-wallets directly connected to the service. When I go to direct service points such as restaurants or coffee shops, I pay by scanning QR codes. It’s been a long time since I carried or used cash,” Thanh shared.

Like Thanh, many other young people in big cities like Ho Chi Minh City are using less and less cash. “I stopped using a wallet a long time ago, because now all my personal documents and spending money are on my smartphone. As long as I don’t run out of battery or lose my phone, everything is very convenient,” said Hai Binh (Ho Chi Minh City).

Meanwhile, according to Tuoi Tre Online in Ho Chi Minh City, most businesses now allow customers to pay by scanning QR codes or contactless payments via NFC technology. Even the smallest retailers such as lottery ticket vendors and street vendors have QR codes posted for convenient payment.

QR, NFC payments lead growth

In the 2024 payment development report, the Payoo payment platform recorded a strong shift in consumer payment behavior. Accordingly, QR payments and NFC technology payments have surpassed other payment methods to become "pioneers" in the digitalization journey of the economy .

Specifically, QR payment, with an average growth rate of 8% - 10% per month, is now not only popular when shopping at convenience stores or paying for meals but also expanding to areas such as electronics, furniture, jewelry and even financial investment.

Statistics from Payoo show that the average transaction value of QR payments has increased by 20% compared to 2023. This reflects a major change: QR is no longer considered a payment solution for small-value transactions but has been recognized as a reliable and flexible method for high-value transactions.

In addition to QR, 2024 is also the year of contactless payments via NFC. While contactless payments are growing quite well with an average increase of about 6% per month, traditional payment methods (swiping/inserting chips) are decreasing by 2% - 3% per month.

Contributing significantly to the familiarity of contactless payment methods are promotional programs of banks and card organizations, including programs of Napas, Mastercard and Payoo jointly deployed at more than 6,000 stores of nearly 40 brands nationwide.

Launch of Cashless Day 2025: Promoting digital economic development

Cashless Day 2025 officially launched with the theme "Cashless payment promotes digital economy", marking the 5-year milestone of implementing the project to develop cashless payment in Vietnam in the period of 2021 - 2025.

Perspective of the "Ting Ting Day" festival at Nguyen Hue walking street, which will take place from June 14 to 15, 2025 - Photo: TT

The program is organized by Tuoi Tre Newspaper in collaboration with Banking Times, Payment Department - State Bank of Vietnam, Ho Chi Minh City Department of Industry and Trade, National Payment Joint Stock Company (Napas) and many other organizations, aiming to raise social awareness, encourage people to access and use modern payment methods such as e-wallets, QR codes, contactless cards, etc., while contributing to building a sustainable cashless ecosystem in Vietnam.

The highlight of this year's event series is the "Ting Ting Day" festival taking place on Nguyen Hue walking street (HCMC), with activities to experience payment technology, minigames, workshops on security solutions for digital transactions, music nights and launching nationwide promotion programs.

The program is expected to attract 50,000 direct participants, reach about 50 million views through online channels, strongly spread the spirit of digital living and digital consumption in the community, contributing to promoting economic growth.

In addition to the main festival, Cashless Day 2025 also has many notable activities such as: the game show "Financial Arena" taking place from May 20 to June 15 with the participation of many young people competing in knowledge and skills of personal financial management; the workshop "Cashless payment - Driving force for digital economic growth" taking place on the morning of June 14 in Ho Chi Minh City, with the content of summarizing 5 years of implementing the project and discussing solutions for developing digital payments in the coming time.

Initiated in 2019 and held continuously over the years, Cashless Day has become an annual social media activity, contributing to changing people's consumption behavior, promoting financial inclusion and strongly supporting the national digital transformation process.

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Source: https://tuoitre.vn/thanh-toan-qr-nfc-lien-tuc-tang-truong-manh-20250523164059917.htm