In the context of the extensive digitalisation of services as well as multidimensional impacts of the COVID-19 pandemic, the behaviour and expectation of Vietnamese consumers have changed, turning digital payment into an evitable trend of the economy and their priority.

Illustrative image (Photo: VNA)

The Cashless Day, which has been organised every June 16 since 2019, has affirmed its significance and pervasiveness when receiving great attention and response of people and enterprises.

This year’s Cashless Day has a series of events, including Dance Cover contest, which kicked off on May 27; two cashless markets, held in Ho Chi Minh City Hi-Tech Park on June 4 and Tan Thuan Export Processing Zone on June 12; a national workshop on "Cashless Day" in Ha Noi on June 16; and a cashless bus that will depart from Ha Noi on June 19 to Vinh city of Nghe An province, Da Nang, Khanh Hoa province’s Nha Trang city and arrive in Ho Chi Minh City on July 3.

The event’s purpose is to respond to the national digital transformation strategy set out by the Government, starting with changes in payment.

To meet requirements of the non-cash trend, the banking sector has invested more in payment infrastructure and information technology.

In the first four months of this year, cashless transactions increased by 32.37 percent in value. The country now has over 347,000 Points of Sale (POS) and more than 100,000 points that accept payments through QR Code.

Source: VNA