Visa reports 38% transaction growth
Visa reports 38% transaction growth
Visa Vietnam reported on Thursday that the number of transactions using its cards grew by 38 per cent year-on-year.
In its quarterly client operating certificates, the company reported that online shopping using its cards saw growth of 53 per cent.
The company attributed the sharp growth to the fact that consumers, particularly younger Vietnamese, are embracing the convenience, competitive prices and greater range of products available online.
"Electronic payments continue to show strong growth in Việt Nam despite the world economy struggling to regain momentum," Sean Preston, the company's country manager for Việt Nam, Cambodia and Laos, said.
Preston said his company found that 79 per cent of Vietnamese cardholders want to increase their use of electronic payments and reduce their reliance on cash.
As of June the company had 13,500 financial institution clients and 40 million merchants globally. It had issued 2.5 billion cards.
