Cashless payments have recorded impressive growth from the beginning of this year, with many transaction channels increasing by over 30%, showing a clear shift in consumer payment behaviour, according to data recently released by the State Bank of Vietnam (SBV).

From December 2, Chinese visitors to Vietnam can use their familiar mobile payment apps to scan VIETQR Global codes and make direct payments at shopping, dining and tourist locations nationwide.

Digital payments in Vietnam have continued to expand rapidly, with QR code transactions soaring by more than 150% in value, according to a report released by the State Bank of Vietnam (SBV) on October 29.

VOV.VN - Popular mobile payment service Apple Pay officially debuted in Vietnam on August 8.

The banking sector hopes that by 2025, the volume of mobile payment transactions will grow by 50 - 80% while transaction value will surge 80 - 100% annually.

The rate of mobile payment in Vietnam is estimated at 29.1%, the third-highest in the world, according to Statista Digital Market Outlook.