The unexpected events surrounding the pandemic have taken a toll on the mergers and acquisitions market, but Vietnam’s dealmaking activities are expected to gain traction in the forthcoming bustling months thanks to the country’s solid fundamentals.
Nearly 75% of Vietnamese consumers expect cashless payment to grow further in the next 12 months.
The State Bank of Viet Nam is drafting a circular regarding cashless payments which might allow domestic commercial banks and domestic intermediary payment companies to co-operate with foreign intermediary payment companies to provide international payment services.
State-owned corporation Vietnam Post has officially begun applying QR code payment through VNPAY-QR to optimise the payment process for customers while simultaneously mitigating cash-related risks by moving towards cashless payment across the country.
With a significant rise in e-commerce and cashless payments during the COVID-19 pandemic, global digital payment leader Visa has launched the “Where You Shop Matters” initiative through partnerships with Shopee and Now to provide a seamless online shopping experience.
Vietnam’s great changes in legal framework on investment have significantly increased the country’s attraction to foreign capital inflows. Minh Nguyen, partner at accounting and tax advisors Mazars in Vietnam, delves into the importance of regulatory sandboxes and mentorship programmes for motivating new economic models.
While cashback is considered a strong method to encourage cashless payments, numerous websites and apps are taking advantage of uninformed consumers with untransparent and illegal multi-level marketing models.
Generali Vietnam has launched a flagship Q&A function on its digital health ecosystem GenVita, enabling users to directly interact with insurance experts for any related inquiry.
The State-run Techo Startup Center (TSC) and private financial institution Advanced Bank of Asia Ltd (ABA Bank) on August 14 signed a Memorandum of Understanding (MoU) on cooperation to support financial technology (fintech) start-ups and build a sound innovation ecosystem for the Kingdom’s budding technological advances.
Italian-backed life insurer Generali Vietnam has launched a Q&A function named GenXPlain on its digital health ecosystem GenVita, enabling users to directly interact with insurance experts for any related inquiry.