Vietnam will trial a mobile payment program to increase its cashless payment rate.
Tuoi Tre (Youth) newspaper, one of the leading dailies in Vietnam, has suggested celebrating ‘Cashless Day’ on June 16 every year as a way to promote non-cash payment in the Southeast Asian country.
MoMo cements its position as the number one e-wallet and digital financial services platform in Vietnam with another year of record-breaking growth in 2018 on the back of the Series C investment led by Warburg Pincus, a leading global private equity firm.
An entrenched cash using habit and safety concerns are the main reasons for people not to switch to non-cash payments, a workshop heard in HCM City on Tuesday.
Vietnam’s far away from becoming a cashless society, given low financial literacy and the lack of an ecosystem, experts say.
High transaction fees, concerns over security and the habit of using cash have hindered local consumers from making noncash payments, Nguoi Lao Dong newspaper reported, citing banking experts.
Technology and innovation are having great impacts on the transforming Vietnamese insurance industry and Big Data brings further opportunities and challenges.
A moderation in Vietnamese banks’ credit growth is a positive for their asset quality and capitalisation, Moody’s Investors Service said in a recent report.
A delegation of the Vietnamese National Assembly’s Finance-Budget Committee led by Chairman Nguyen Duc Hai has paid a visit to Germany to learn from the country’s experience in State budget and tax management.