Nguyen Van Linh and Tran Van Tru streets in Hai Chau District in downtown Da Nang were chosen to promote cashless transactions at all shops on a trial basis before the plan is expanded to other parts of the central beach city, Tuoi Tre reported, citing the district authority.

Phan Thi Thang Loi, vice chairwoman of Hai Chau District, said the launch of the two cashless streets would entitle residents and tourists to special benefits offered by goods retailers and service providers, which will help promote non-cash payments. The scheme is also meant to stimulate shopping and support enterprises and retail shops in the area.

The plan is a joint effort of the Vietnam E-commerce Association and relevant payment organizations like the e-wallet company MoMo, the Vietnam Military Bank (MBBank), and commercial enterprises in Hai Chau District.

Nguyen Van Dong, director of MBBank Da Nang, said his bank this week would help open accounts and provide payment codes for residents living along the two streets to facilitate their shopping. The bank would also promote cashless transactions among residents in other districts in Da Nang City.

Source: SGT