Cashless payments on the rise

Non-cash payments have become a new trend in Vietnam over recent times. When shopping or making other transactions, consumers can now use bank cards or mobile payment apps to enjoy preferential policies.

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As of late April, transactions via the internet had increased more than 31 percent in volume this year compared to the same period last year, by mobile phone over 123 percent in value, and by QR code over 181 percent in value.

As non-cash payments rise, cash withdrawals at ATMs have fallen sharply.

Non-cash payments are an trend around the world and Vietnam is no exception. In the context of COVID-19, non-cash payments provide convenience as well as safety, preventing the risk inexorable of customers becoming infected./.

VNA

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