HCM CITY — “Non-cash payment is not just a transaction method but a strategic foundation connecting all components of the digital economy,” an official from State Bank of Vietnam's payments department told the media during the launch of HCM City’s Cashless Day programme.

The programme, with the theme "Cashless Payment for Digital Economy Promotion," seeks to encourage non-cash payment adoption, enable a sustainable cashless ecosystem and contribute to digital transformation in the country. 

The event will run until July with game shows, workshops and shopping promotions. 

A highlight is the "Ting Ting Day" festival on Nguyễn Huệ pedestrian square in District 1 on June 6, showcasing payment technology experiences, mini-games, workshops, and digital transaction security solutions.

The programme is expected to draw 50,000 people and over 50 million online transactions.

According to the central bank's payments department, non-cash payments were worth VNĐ295.2 quadrillion in 2024, or 26 times the country's GDP. 

By the end of last year, 86.97 per cent of people aged 15 and above had bank accounts. 

In the first quarter of this year, non-cash transactions increased by 44.43 per cent year-on-year. 

Nearly 10.4 million mobile-money accounts exist, almost a third in rural, remote and island areas.

As of March, the country had 30.27 million active e-wallets with over VNĐ2.8 trillion and 47 e-wallet providers. 

The event was organised by the State Bank of Vietnam, Tuổi Trẻ (Youth) newspaper, the HCM City Department of Industry and Trade, and National Payment Corporation of Việt Nam. — VNS