Scanning a code to pay for products and services has become popular among consumers in Vietnam’s big cities. Under the impact of the Covid-19 pandemic, non-cash payments have been growing rapidly.
Southeast Asian companies are in the race to develop their own super apps. Some Internet businesses are expanding beyond their core businesses to offer services such as on-demand transportation, food delivery and telemedicine.
The State Bank of Vietnam is intensifying investigations to fight against illegal gamblings via e-wallets, following recent media reports covering allegations related to MoMo's e-wallet.
The pilot program on providing the Mobile Money service is expected to increase non-cash transactions, especially in remote areas. To improve users' experience, fintechs should work with network operators, experts say.
People are installing up to 10 e-wallets on their smartphones, but are only using them during sale promotion programs.
Vietnamese are making more payments with QR Code thanks to its utility, security and promotion programs launched by service providers.
E-wallets firms are battling for a piece of the cashless payment market amid rapid growth in the context of the COVID-19 pandemic.
E-wallet service providers want to extend the deadline for users to complete identity verification.
Non-cash payments continue to boom in Vietnam this year as the country has seen a surge in banking transactions and mobile payments in the first four months of the year, according to an official from the State Bank of Vietnam (SBV).
Deputy Governor of the State Bank of Vietnam Dao Minh Tu has said July 7 is the deadline for e-wallet owners to complete the identity verification.