Each displayed product will have a QR code which helps visitors easily access detailed relevant information, such as product origin, growing area, production and preservation processes, and official sales addresses.
The central banks of Vietnam and Laos have recently launched a bilateral retail payment service using QR codes, enabling seamless cross-border transactions between the two countries.
Vietnam's digital payment ecosystem is undergoing a remarkable transformation, driven by a tech-savvy population, government initiatives, and innovative financial solutions, according to finextra.com, a leading UK newswire and information source for worldwide financial technology.
Non-cash payments continue to grow rapidly in Việt Nam, requiring a focus on ensuring payment security, a representative of the State Bank of Việt Nam said at a press conference on Cashless Day 2024 held in Ho Chi Minh City on May 28.
As the traditional Lunar New Year (Tet) festival is just around the corner, commercial banks are offering a wide range of promotional programmes and financial solutions to encourage cashless payment during the peak shopping season.
Craft villages in the central province of Quang Ngai are speeding up production to meet market demand during the upcoming Lunar New Year (Tet) Festival which falls on early February this year.
The average annual growth in the number of transactions via QR code has reached 471.13% since the payment method's introduction in 2018, 77.41% of the Vietnamese adult population possess payment accounts with commercial banks reporting over 90% of all transactions conducted through digital channels, with some banks achieving a rate of up to 98%, according to the State Bank of Vietnam (SBV).
Up to 77.41% of the adults in Vietnam have payment accounts at present, an increase from 31% during the 2015 - 2017 period, an official of the State Bank of Vietnam (SBV) cited a World Bank report as saying.
Bank Indonesia (BI) has reported that the volume of transactions using Quick Response Indonesian Standard (QRIS) codes has exceeded its year-long target.
With the aim of bringing folk art performances closer to the youth, many organisations have focused on introducing traditional art forms in public spaces, increasing interactions with folk art and young people.
Mobile banking apps, e-wallets, QR code-based payments, e-commerce payment platforms and mobile wallet debit or credit cards are the preferred payment methods among Vietnamese consumers, the United Overseas Bank (UOB) said in its report “ASEAN Consumer Sentiment Study" (ACSS) which was released on November 1.
Starting August 7, Napas cardholders will be able to utilise their Mobile Banking application to perform interbank cash withdrawals from ATMs by scanning the VietQR code, eliminating the need for a physical card.
Electronic and cashless payments saw significant increases in Vietnam in the first half of this year, with internet transactions growing by 76% in volume and 1.79% in value.
Launched in the middle of May, the use of QR codes to manage individuals who frequently traverse Chi Ma border gate in the northern province of Lang Son has been proved effective in ensuring order, security and activities at the border gate.
Cashless payments are developing rapidly in Vietnam, especially after the COVID-19 pandemic, with transactions via banks averaging 40 billion USD per day, said the State Bank of Vietnam.
Non-cash payment transactions witnessed a significant surge in the first two months of this year, indicating a notable shift in customers’ behaviour towards modern financial services.
The People's Committee of Dau Tieng district in the southern province of Binh Duong plans to establish a pilot project that uses cashless payments at traditional markets, grocery stores and other businesses.
