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Update news cashless payments
From apartment buildings and shopping malls to hospitals and schools, Hanoi wants paid parking facilities to collect fees digitally and share parking and transaction data with a centralized city system under proposed rules.
Cashless payments are evolving from a convenient transaction method into a gateway to the financial system. They are helping more people and businesses access financial services, a workshop in Hanoi heard on October 6.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Vietnam is enhancing its regulatory framework and policies to promote cashless payments as part of its strategy to develop a more digital economy.