Vietnam: Virtual Events Scheduled to Mark 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. They include a rap competition, an online game entitled “Dau truong khong tien mat” (Cashless battle), and webinars on personal financial management tools for students and Vietnam striving to become a cashless nation.

Data from the State Bank of Vietnam shows that the number of non-cash transactions has been on a rise in Vietnam during the pandemic. Internet payment has increased 65.9 percent in volume and 31.2 percent in value year-on-year in the first four months of 2021.

Mobile and QR Code payments have been even seeing much higher year-on-year growth, 86.3 percent in volume and 123.1 percent in value, and 95.7 percent in volume and 181.5 percent in value, respectively.