The prolonged COVID-19 pandemic has unexpectedly created "golden" conditions for the financial industry to accelerate digital transformation and shift to cashless payments.

The State Bank of Vietnam (SBV) has directed credit institutions to reduce some transaction fees from August 1 this year to support customers amid the outbreak of the latest COVID-19 pandemic.

Three mobile network operators - Viettel, VNPT and MobiFone - have applied for the implementation of their own Mobile Money pilot projects.

Visa financial services corporation announced that it has joined hands with Moca e-wallet on the Grab application.

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.

Vietnam is marching towards becoming a cashless society with new methods of electronic payments being deployed widely, but security risks come hand in hand with new technologies and applications.

Demand for deposits by individuals have increased significantly in recent months as people tended to switch to cashless payment methods, especially in the context of the COVID-19 pandemic.

Forms of digital payment have become more popular in Vietnam, particularly e-wallets and QR codes.

The Vietnam Grand Sale 2021 will take place nationwide from July 1 to 31, with discounts of up to 100%, heard a press conference in Hanoi on April 28.