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Cashless payment has become a part of everyday life

According to Ms. Lai Viet Anh, Deputy Director of the Vietnam E-commerce and Digital Economy Agency, non-cash payment also contributes to conveying strong messages about consumer protection in the prevention and control of counterfeiting and infringing intellectual property rights in the digital environment.

(News Portal – Dong Nai) – Non-cash payment is an inevitable trend in the process of developing global economic and trade, and Vietnam has been following this trend. Dong Nai province is an industrial province so it has many advantages to develop non-cash payment services. 

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Customers scan payment codes when making purchases at a booth displaying and promoting OCOP products of Dong Nai province at the online payment market in Da Nang City

Currently, many businesses in the province, including businesses, production facilities, and small businesses, are actively applying cashless payments in direct sales as well as sales on ecommerce channels. According to consumers in the province from urban to rural areas, they are also gradually forming the habit of buying, selling and transacting without using cash because it is very convenient.

Go shopping without cash

Ms. Nguyen Thi Huong, a resident of Buu Hoa ward, Bien Hoa city, said that today, housewives go to the market just need to bring a smartphone to be able to scan codes to buy everything, from bundles of vegetables costing several thousand VND to expensive items. Most small businesses selling in markets and grocery stores accept customers buying via bank transfer, and many establishments have QR codes available to make payment more convenient for buyers.

Mr. Nong Senh Bau, Director of Dong Du Ky Food Production and Import-Export Trading Co., Ltd. (Song Trau commune, Trang Bom district) commented that popularizing online payment has almost no difficulties. Because now even older women and men in rural areas use smartphones, have Facebook accounts as well as other online accounts. To add a convenient payment channel for consumers, recently, the business have deployed an online payment program with a QR code so that consumers only need to open their phone to scan the code and pay, so it is very convenient. In addition, there are currently many online payment applications with many incentives for users. This smart payment channel is convenient for both manufacturers and consumers and is very suitable for today's dynamic business landscape.

Responding to the cashless shopping movement, in early December, many Dong Nai businesses participated in the Cashless Payment Market combined with launching Online Friday Shopping Day organized by the Ministry of Industry and Trade in coordination with the People's Committee of Danang City. Participating businesses have many promotional activities such as: QR voucher codes, online promotions... to attract people and tourists to visit, shop, and experience trying out products and services. As a result, manufacturers can introduce to consumers e-commerce sites and social networking applications that they can use to shop anytime, anywhere.

Contribute to the development of e-commerce

E-commerce is a channel for promoting and selling products that many manufacturing and business enterprises in the province are interested in investing in. This model has become one of the channels with strong sales promotion capabilities, increasingly attracting users compared to traditional sales methods. With e-commerce sites, social network applications help businesses reach out to customers conveniently, thereby promoting, introducing and selling without having to spend a lot of costs and human resources. On the contrary, consumers can easily choose, shop, and pay quickly and conveniently at anytime, anywhere through online payment tools and applications.

According to Ms. Lai Viet Anh, Deputy Director of the Vietnam E-commerce and Digital Economy Agency (Ministry of Industry and Trade), e-commerce is one of the pioneering fields of the digital economy. Although the world and regional economies face many difficulties, Vietnamese e-commerce always maintains a high growth rate of 16-20%/year. In 2023, the scale of Vietnam's retail e-commerce market is estimated to reach 20.5 billion USD, accounting for about 8% of the country's revenue of consumer goods and services. Vietnam is recognized by organizations around the world as having the leading e-commerce development rate in Southeast Asia. In particular, the development of e-commerce associated with cashless payment brings many benefits to both manufacturing enterprises, businesses and consumers. ​

Author: Song Le

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