Cashless payment for restaurant, catering services on the rise
Cashless payment has become more popular in all sectors, including restaurant and catering services, according to Winnie Wong, Mastercard’s Country Manager for Vietnam, Cambodia and Laos.
Hanoi (VNA) – Cashles🦋s payment has become more popular in all sectors, including restaurant and catering services, according to Winnie Wong, Mastercard’s Country Manager for Vietnam, Cambodia and 🔴Laos.
Speaking at the recent Food and Beverage Conference 2022 in Hanoi, Wong noted that in Southeast Asia, payment for restaurant and catering services in cash fell 60-70 percent due to safety and hygiene reasons.
She said that 2021 was a tough year for catering service sector due to COVID-19 impacts. However, the sector has found the way to adapt to the situation and overcome difficulties, she said, stressing that payment methods of customers have gradually changed.
In order to avoid direct contacts, customers tend to switch to online shopping and cashless payment. Meanwhile, sellers in all scales have also applied digital technologies to enable themselves to conduct online selling and receive cashless payment, meeting the demand of customers and safety requirements amid the complicated development of COVID-19, said Wong.
She commented that before COVID-19 broke out, Vietnam had developed cashless payment in transactions in all sectors, which paved the way for the expansion of the method in the country amid the pandemic.
New technologies have made cashless payment faster and more convenient compared to cash payment. Particularly, payment using QR codes has become more popular, especially in the context of the pandemic, making it easier for both buyers and sellers in conducting transactions.
A recent survey revealed that 72 percent of customers become more loyal to retailers that accept many payment methods, while 85 percent of shoppers wish to pay in their own way and 61 percent said they often avoid sellers that do not accept any e-payment methods./.
Some 93.38 percent of electricity customers have shifted to cashless payment so far, compared to last year’s 91.72 percent, according to the State-owned Electricity of Vietnam (EVN).
MobiFone has become the first telecoms company to provide Mobile Money services in Vietnam after receiving permission from the State Bank of Vietnam on November 18.
Vietnam's Online Shopping Day, dubbed ‘Online Friday 2021’, began at 00:00 hours on December 3, marking the start of the largest online shopping event in the country lasting 60 hours.
With contactless payment becoming increasingly common in Ho chi Minh City due to people’s fear of COVID-19, retail firms are investing more and more in digital infrastructure.
More than 463,000 people have used Mobile Money as of February 11, over one month after the Viettel Military Industry and Telecoms Group (Viettel) and the Vietnam Posts and Telecommunications Group (VNPT) launched the cashless payment service, according to the Ministry of Information and Communications.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
According to NordCham Vietnam Chairman Thue Quist Thomasen, the Vietnamese Government’s commitment to achieving net-zero emissions by 2050 is both a challenge and an opportunity for businesses to contribute to green and sustainable growth.
The analysis from an investment perspective shows that the economy’s growth has been heavily capital‑driven, yet efficiency remains low as reflected by Vietnam’s Incremental Capital-Output Ratio (ICOR) being significantly higher than global and regional averages. This underscores the imperative to enhance capital‑use efficiency.
Deputy PM Tran Hong Ha urged countries to work together to remove supply chain bottlenecks, expand market access, strengthen cooperation in smart customs procedures, mutually recognise technical standards, and eliminate unnecessary protectionist barriers to boost trade and investment.
The event has gathered over 400 exhibitors from 16 countries and territories, with more than 980 booths showcasing a wide range of products and technologies in automotive components, electronics, repair and maintenance, bodywork, accessories, and customisation.
The latest order follows Vietjet’s commitment for 20 additional A330neo aircraft last month, bringing the airline’s total widebody aircraft on order to 40.
Minister of Finance Nguyen Van Thang acknowledged the target represents an important milestone for socio-economic development as well as a demonstration of the country’s aspiration for robust economic growth.
The price of E5 RON92 petrol is now capped at 20,631 VND (0.79 USD) per litre, up 1,169 VND from the previous adjustment, while RON95-III costs no more than 21,244 VND per litre, up 1,277 VND.
While German consumers are familiar with Vietnamese products such as coffee, seafood, tea, and spices, many other quality items remain relatively unknown in the market. The Selgros event not only helped introduce Bac Giang lychee to German consumers but also provided them with the opportunity to experience other Vietnamese agricultural products.
The article by Cuba’s Inter Press Service detailed how Vietnamese private enterprise Agri VMA leased 1,000 ha of land in Los Palacios district, Cuba’s westernmost province of Pinar del Río, for rice cultivation over a three-year period. The project’s first harvest in 2025 recorded an impressive yield of 7.2 tonnes per hectare, far exceeding the local average of 1.6 tonnes.
During the visit, office representatives held a working session with the Tipaza Chamber of Commerce and Industry and met with several prominent local businesses operating in key sectors including industry, agriculture, fisheries, food processing, chemicals, pharmaceuticals and plastics.
A Nordic delegation to Vietnam International Sourcing 2025 in September will feature leading names in retail, consumer goods, logistics, and sustainable manufacturing, including global fashion giant H&M, offering fresh prospects for partnerships in fashion, textiles, and green supply chains.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
Illustrative image (Source: VNA)
