Some 62% of women-led small and medium-sized enterprises and micro-businesses reported increased revenue after adopting digital payments, according to a recent study on small and medium-sized businesses (SMBs) in Vietnam released by Visa, a global leader in digital payments.

The Government’s policy of promoting cashless payment has triggered the spread of online payments in Vietnam as well as the race of new technologies, contributing to boosting the digital economy.

Vietnam has emerged as a frontrunner in B2B sales on credit, boasting a 67% ratio, surpassing the 51% average in Asia, reported a recently-revealed Atradius Payment Practices Barometer survey.

Up to 77.41% of the adults in Vietnam have payment accounts at present, an increase from 31% during the 2015 - 2017 period, an official of the State Bank of Vietnam (SBV) cited a World Bank report as saying.

Prime Minister Pham Minh Chinh on December 29 asked the Governor of the State Bank of Vietnam (SBV), the Minister of Finance and the General Director of Vietnam State Treasury to deploy measures to meet payment and cash demands of individuals and firms at year-end, during the coming New Year and Lunar New Year holidays.

Vietnam and Cambodia have officially launched a bilateral cross-border QR payment link, allowing their peoples to scan QR codes to make payments in each other’s country using their local currency.

There is an increasing preference for digital banking and new payment modes such as mobile banking apps, e-wallets, QR code-based payments, e-commerce payment platforms and mobile wallet debit or credit cards among Vietnamese consumers, the United Overseas Bank (UOB) said in its report “ASEAN Consumer Sentiment Study" (ACSS) which was launched on November 1.

The National Electronic Authentication Centre (NEAC), Ministry of Information and Communication (MIC), Vietnam Banks Association and Certificate Authority and Digital Transaction Club (VCDC) on October 17 held a workshop on the role of personal digital signatures in online payment.

The Hanoi authorities on October 7 held an event to promote cashless payments in Hoan Kiem district.

Vietnam has received US$41.2 million, equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025, according to Director of the Forestry Department under the Ministry of Agriculture and Rural Development (MARD) Tran Quang Bao.