A host of events and activities will be held virtually on Cashless Day 2021 (June 16) to raise public awareness of non-cash payment and contribute to achieving goals set by the national financial inclusion strategy by 2025, with a vision towards 2030.

They include a rap competition, an online game entitled “Dau truong khong tien mat” (Cashless battle), and webinars on personal financial management tools for students and Viet Nam striving to become a cashless nation.

Various special deals are being offered to non-cash shoppers by a number of lenders, payment intermediaries, online marketplaces, service providers and retailers throughout this month.

In July, the Saigon Union of Trading Co-operatives (Saigon Co.op) and partners will launch a programme in which necessities will be delivered to workers and people in pandemic-hit areas by e-commerce platforms Shopee and Now. The programme is expected to provide a chance for the public, particularly young people, workers and low-income earners, to experience and understand the benefits of digital payment tools amid COVID-19.

Data from the State Bank of Vietnam shows that the number of non-cash transactions has been on a rise in Viet Nam during the pandemic. Internet payment has increased 65.9 per cent in volume and 31.2 per cent in value year-on-year in the first four months of 2021.

Mobile and QR Code payments have been even seeing much higher year-on-year growth, 86.3 per cent in volume and 123.1 per cent in value, and 95.7 per cent in volume and 181.5 per cent in value, respectively.

A study by Visa found a surge in the use of mobile wallets and payment apps in Viet Nam over recent years, with over 85 per cent of consumers having at least one of them and over 42 per cent using mobile contactless payments. — VNS