Cashless payment in Vietnam increases popularity

The State Bank of Vietnam has just informed of positive signs for payment without using cash in the country, proving that this method has been wholeheartedly welcomed by the public.


Statistics from the Vietnam State Bank reveal that until the end of January 2024, the number of ATMs in the country was nearly 21,000. This was a drop of 1.7 percent compared to this time last year. Payment via ATMs reduced by 15.14 percent in quantity and 18.76 percent in value.

Meanwhile, the number of POS terminals saw a rise of 32.7 percent to reach about 555,000 items. This shows a gradual shift to cashless payment in the community. This payment type experienced a growth of 63.3 percent in quantity and 41.5 percent in value.

The figures for payment via the Internet also increased by nearly 58 percent in quantity and 32.4 percent in value; via mobile devices by 69 percent in quantity and 41 percent in value; and via QR codes by even 893 percent in quantity and 1,062 percent in value, which is extremely impressive.

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