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Cashless payments to change Vietnam’s digital economy

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(VOVWORLD) - Online transactions doubled in Vietnam while the size of transactions tripled in one year from the first quarter of last year to first quarter of this year.  
Cashless payments to change Vietnam’s digital economy - ảnh 1Photo: Minh Quyet/VNA

Addressing the cashless payment event on Thursday as part of Hanoi Sales Promotion 2022, Lai Viet Anh, Deputy Director of the Department of E-commerce and Digital Economy, said although other economic sectors faced numerous difficulties during the COVID-19 pandemic, non-cash payments still enjoyed a double-digit growth.

In the first 4 months of this year, non-cash payments in Vietnam grew 69% with the value increasing 27.5%, maintaining the growth made during the pandemic.

Viet Anh said that there remain lots of opportunities for non-cash payments to develop. 71% of Vietnamese people still use the cash on delivery (COD) method in e-commerce while bank transfer payment predominates.

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