As of 2024, Vietnam had recorded over 204.5 million bank accounts held by individual customers and 154.1 million bank cards in circulation. Nearly 87% of Vietnamese adults now have bank accounts.
“Non-cash payment is not just a transaction method but a strategic foundation connecting all components of the digital economy,” an official from State Bank of Vietnam's payments department told the media during a press conference on the launch of HCM City’s Cashless Day programme.
The State Bank of Vietnam (SBV) has requested banks, branches of foreign banks, and providers of intermediary payment services to take steps to continue promoting cashless payment and the implementation of the national digital transformation programme.
To encourage Vietnamese consumers and businesses to apply digital payment, Visa, a world leading e-payment technology company, has expanded activities in response to the annual Cashless Day in Vietnam (June 16).
Vietjet is offering hundreds of thousands of promotional tickets flying across Vietnam and Asia with preferential prices from only 16,600 VND, excluding taxes and fees, in response to “Cashless Day” (June 16).
In the context of the extensive digitalisation of services as well as multidimensional impacts of the COVID-19 pandemic, the behaviour and expectation of Vietnamese consumers have changed, turning digital payment into an evitable trend of the economy and their priority.
HCM City is on course to build a smart city, so building a cashless society is among its main goals, said Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen.