It is reported that Vietnam is moving towards a "cashless society," the government's strong support for digital payment policy has triggered a surge in online transactions in the country, and the innovation competition between technology companies has also promoted the development of Vietnam's digital economy.。

A survey shows that in Vietnam nationwide, there are a considerable number of sellers (43.8%) Bank transfers are currently accepted for payment, and another 15.3% of sellers use VietQR codes to collect payments, highlighting the widespread use of digital payment methods。

In response to this trend, banks have proposed a variety of support plans for sellers, including the creation of QR codes for fast transfers and the provision of exclusive QR code display boards for each store.。Cooperation between banks and software vendors has further enhanced the capabilities of the digital payment system, while incentives have supported the transition phase of cashless transactions in the country.。

Online payment providers are at the center of this trend, and they are currently working to improve security through advanced technologies such as biometric authentication。Thanks to the AI technology built into smartphones, the latest technologies such as voice-activated payments are expected to further simplify the transaction process and improve the user experience.。

Today, two-dimensional code payment "red" all kinds of people, whether young or old, can enjoy the convenience it brings。Statistics show that from 2022 to 2023, Vietnam's online banking payments and mobile wallet transactions increased significantly。

The National Payments Corporation of Vietnam (NAPAS) reported that in the third quarter of 2023, the volume of payments made through VietQR codes doubled to more than 100 million transactions per month;。It is worth noting that QR code payments are being widely used for various transactions (such as utility bill payments), demonstrating its strong penetration capabilities.。

By the end of 2023, 94.36% of target enterprises have adopted digital systems, simplified administrative processes, reduced operating costs and improved production efficiency, marking the acceleration of Vietnam's digital transformation; on the other hand, e-commerce has become an important driving force for the country's economic development。

Vietnam's e-commerce market soared to $20.5 billion in 2023, up 25% year-on-year, highlighting its key role in the country's digital economy.。The popularity of electronic invoices is an important factor driving its growth, with the support of Vietnam's General Administration of Taxation, issuing electronic invoices up to 1.04.8 billion copies, compared with the initial stage to achieve 47..Six times the growth。

According to the report, Vietnam's banks are promoting cashless payments through innovative incentives to cope with changes in consumer behavior, including incentives for mobile payments, QR code payment discounts, and "lucky coins."。

According to the directive of the State Bank of Vietnam, NAPAS has strengthened technical and operational measures to ensure the stability and security of the inter-bank electronic payment system to cope with the growing cashless transactions, especially during holidays。In addition, the agency has strengthened its IT infrastructure and liquidity oversight, while guaranteeing round-the-clock support to member institutions.。