After nearly 2 months of launching, the model 'Cashless payment market' has been widely deployed in many communes in Da Nang’s Hoa Vang District. This has created popular, convenient and quick payment habits among people, and contributed to boosting the development of the digital economy, and accelerating the digital transformation in the district, and the city as a whole.

With just a simple scan of the VietQR code, market-goers in Da Nang can easily pay for their purchase. Photo: QUYNH TRANG

The Tuy Loan Market in Hoa Phong Commune is the first market that has been chosen to pilot the non-cash payment market model.

To ensure the effective implementation of the model, Hoa Vang District’s Market Management Board has coordinated with banks to widely publicise the model, open accounts, install applications and print QR codes for more than 200 market stallholders.

Additionally, the district authorities have invested in a free fiber optic internet system at the market with 7 high-speed wifi lines. Thanks to that, instead of using cash for trading activities as before, visitors and small traders at the market can make cashless payments by scanning QR codes or transferring money via phone applications quickly, safely and securely.

Mrs. Nguyen Thi Tinh Kha, a resident of the Phu Son Nam Village, Hoa Khuong Commune, said that the cashless payment trend using QR codes is gradually becoming familiar and widely applied in the district. People have a new form of payment, so they don't have to worry about dropping or forgetting their wallets.

Similarly, Mrs. Mai Thi Lan, the owner of a shoe stall at the Tuy Loan Market, highlighted the convenience of the model. To make it easier for customers to make cashless payment, she has equipped QR codes from three different banks. She didnot have to worry about receiving or giving wrong change to customers, she added.

Mrs. Nguyen Thi Hong Vinh from the Hoa Vang District Market Management Board said that till date, 390 out of the 570 small business households at the Tuy Loan Market have applied non-cash payments.

However, the implementation of the model at markets in Hoa Vang District is still limited because most of old traders have little access to information technology, and do not use smartphones or bank accounts.

“We will continue to propagate the model to the remaining small businesses that have not yet applied cashless payments. At the same time, we will work with banks and network providers to provide e-wallets for them" Mrs. Vinh said.

Aside from the Tuy Loan Market, the Hoa Vang District authorities have deployed the cashless payment market model at the Mieu Bong Market in Hoa Phuoc Commune), the Le Trach Market in Hoa Tien Commune, and third-class markets in other communes.

Mr. Nguyen Van Quyen, Deputy Head of the Culture and Information Office of Hoa Vang District, said that recently, the department has coordinated with related units to deploy non-cash payments at markets, production facilities and business households.

To date, all communes in the district have signed a commitment to deploy and replicate the model. This is the premise to quickly make non-cash payments at second and third grade markets in the locality.

Reporting by V.HOANG, T.TRUC - Translating by M.DUNG