With emerging technologies such as AI and blockchain, Vietnam has the ability to leverage data connectivity to create ‘an integrated payment ecosystem’ to promote cashless payments, experts said at a recent meeting in HCM City.

Cashless payments are developing rapidly in Vietnam, especially after the COVID-19 pandemic, with transactions via banks averaging US$40 billion per day, according to Pham Anh Tuan, Director of the State Bank of Vietnam (SBV)’s Payment Department.

VOV.VN - The State Bank of Vietnam (SBV) and Tuoi Tre (Youth) newspaper held a press conference on May 26 in Ho Chi Minh City announcing the fourth edition of Cashless Day 2023, an initiative aimed at promoting non-cash payments in Vietnam.

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

VOV.VN - Hanoi played host to Cashless Day 2021 on November 5 as part of efforts to stimulate consumption and change residents’ habit of using cash in daily transactions.

VOV.VN - Local airline Vietjet Air is to launch an array of discounts for flights across Vietnam on June 16 in response to Cashless Day.

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.