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[Vietnam] June 16th is Cashless Day / A number of promotional campaigns with discounts and special offers will be launched.

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Promote both providers and users, such as providing POS with free electronic payments.

In Vietnam, the government policy is to promote cashless payments, and various campaigns are being conducted to promote cashless payments, such as campaigns offering discounts for cashless payments and special offers for newly registered electronic payment applications.

Under the guidance of the State Bank, TuoiTre, a major newspaper in Vietnam, held a campaign to promote cashless payments, designating June 16 as Cashless Day.
Next Pay, a cashless service, and VISA jointly conducted a campaign to promote electronic payments in retail stores by offering a limited number of POS that support electronic payments for free or at a discounted price.

MoMo, an e-payment service that also aims to support farmers, collaborated with the Saigon Co.op group, the largest retail company in the world, to launch a campaign from June 10 to 30, 2020, where people can donate to farmers, buy rice and lychees, and support farmers through the agricultural support page in the MoMo app. The campaign was held in collaboration with the MoMo Group.

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Government target to reduce the percentage of cash payments to less than 10 percent by the end of 2020.

The percentage of credit card holders in Vietnam was low at less than 5%, and the percentage of payments made in cash was high. The Vietnamese government has been encouraging cashless payments for the purposes of convenience, cost reduction, transparency of transactions, and prevention of corruption, and has set a goal of reducing the percentage of cash payments to less than 10% by the end of 2020. For some time, banks have been able to make online payments through websites and apps, but in recent years, electronic payment apps such as "MoMo," "ZaloPay," and "ViettelPay" have emerged and become more prevalent. Since it is easy to transfer money from a bank's website, etc. to an e-payment app, the use of e-payments has increased, especially among young people who do not own credit cards.

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This article is co-authored by TNC Lifestyle Researcher (http://lifestyle.tenace.co.jp/) and Intage's Global Researcher.

Translated with AI Translator

  • TNCアジアトレンドラボ

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    TNC ASIA Trend Lab

    TNC ASIA Trend Lab is an information organization run by TNC Inc. that researches and shares trends in Asia. It supports corporate marketing activities by finding insights from trends rooted in the lifestyles and habits of local consumers.
    http://tnc-trend.jp/

  • Intage Inc

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    Intage Inc.

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  • Sep 01, 2020
  • 1353 Views

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