return icon Vietnamnet.vn

Retailers invest in tech as contactless payments become a trend

With contactless payment becoming increasingly common in HCM City due to people’s fear of COVID-19, retail firms are investing more and more in digital infrastructure.

{keywords}
A buyer pays for food items at the Grove Fresh store via an online-connected screen. Photo vir.com.vn

The first Vietnamese digital platform for retail necessities, G Market, was launched in HCM City by Grove Fresh Group in collaboration with the city Department of Industry and Trade.

It offers over 10,000 key necessities through a close-ended ‘Farm-Factory-Hub-Door’ process.

Goods are selected from qualified farms and factories (Farm-Factory) and transported to and stored in ideal temperature conditions at a specialised warehouse system (Hub).

There they are checked, screened and packed, and delivered by staff to customers (Door).

A Grove Fresh spokesperson said for each order placed on www.gmarket24h.com, customers would be given a unique code, and they could use it at the smart automatic warehouse to pick up their goods if they want.

Customers can also shop in stores without making direct contact with staff by using pre-arranged instruction boards and an online-connected screen.

Nguyen Thanh Nhan, general director of Grove Fresh Group, said four tonnes of many essential items such as meat, fish, eggs, rice, fruits, and vegetables are sold every day.

Since the fourth COVID outbreak began in April, Grove Fresh Group has partnered with the city to supply goods.

It is expected that in mid-January it will launch a 24/7 vending machine to serve customers for Tet (Lunar New Year).

Companies are focusing on investing in infrastructure and technology for non-cash payments, especially electronic payments, with improved quality, meeting the increasing demands of consumers.

The prolonged lockdowns that kept people at home and the fear of contracting COVID-19 have accelerated consumers’ preference for digital transactions.

According to the surveys, 67 per cent of consumers said they would like to use contactless payments wherever applicable.

Besides, financial institutions have been competing to develop the best digital platforms for customers through apps that are secure, user-friendly and fully integrated.

Nguyen Anh Duc, general director of Saigon Co.op, said the rate of cashless payment at Co.opmart, Co.opXtra, Co.op Food, and Co.op Smile increased sharply in recent years to nearly 21 per cent last year.

It targets 30 per cent within three to four years, he said.

Saigon Co.op has been collaborating with various companies to deploy a series of new payment services and applications based on tech platforms that offer more convenience to customers shopping at its over 800 stores, he added.

Multiple factors have caused this surge in cashless payments including the impact of telecommunications, which has eliminated the “strangeness” consumers used to feel about cashless payments, and the COVID-19 pandemic, which acted as a catalyst.

Others include the improved infrastructure for connecting retailers and payment service providers and legal mechanisms to protect customers, which has increased their trust in the safety of digital payments.

AppotaPay forecast the cashless payment market would grow strongly in the next three to five years, with mobile money and e-wallets becoming key to expanding non-cash payments.

A recent report by the Government said cashless payments topped VND36.28 quadrillion (US$1.6 billion) in the first nine months of this year, including VND13.5 quadrillion via mobile phones, the latter representing a 93.69 per cent increase.

The growth was led by digital wallets, contactless payments and QR code payments.

Contactless cards led the way in the food and dining category, with 67 per cent of consumers using them in 2020 for bill payments (71 per cent), retail shopping (58 per cent) and supermarket shopping (57 per cent).

Vietnamese consumers have quickly adopted new ways of paying that do not involve physical contact such as tapping to pay.

Source: Vietnam News

Vietnam must stay on the digital transformation path: Prime Minister

Vietnam must stay on the digital transformation path: Prime Minister

Prime Minister Pham Minh Chinh chaired the first meeting of the committee via a videoconference on November 30, 2021.

The digital economy in the new normal

The digital economy in the new normal

Vietnam’s e-commerce has been growing rapidly, and when the pandemic is over, the e-commerce market is expected to be even more robust.  

MORE NEWS

Multi-billion thermal power project needs more capital

The Ministry of Industry and Trade (MOIT) has asked for ministries' opinions on solutions to problems related to the balance sheet of the Vung Ang 1 thermal-power plant.

The best September photos on VietNamNet

Hot air balloons with the Vietnamese national flag of 1,800m2 on the banks of the Saigon River, Typhoon Noru making landfall in Quang Nam Province, the roofs of many houses being blown away...

BSR to expand Dung Quat Oil Refinery

The Ministry of Industry and Trade (MOIT) has asked Binh Son Refining and Petrochemical JSC (BSR) to clarify some issues related to its project on expanding Dung Quat Oil Refinery.

Dutch conductor to lead concert at Opera House

Conductor Leon Bosch from the Netherlands will lead a concert featuring masterpieces by European composers at the HCM City Opera House on Saturday, October 8.

‘578’ to represent Vietnam at Oscars

An action film starring Miss Universe Vietnam 2018, H'hen Niê, 578: Phát Đạn Của Kẻ Điên (578: Magnum), has been selected as Vietnamese representative at the 95th Oscars, 2023.

USD surges to VND24,000, US$1.7 billion withdrawn from circulation

The State Bank of Vietnam (SBV) withdrew nearly VND41 trillion ($1.7 billion) through open market operations as the US dollar rose to over VND24,000 on September 26-30, 2022.

HCM City to build a series of new traffic projects

HCM City is speeding up procedures to start the construction of key traffic works at gateways by the end of the year, according to HCM City's Department of Transport.

Burning garbage in Hanoi threatens residents' health, property

There have been consecutive fires caused by people's poor awareness, who were burning garbage and straw in residential areas, causing fires recently in Hanoi.

New cargo airline still waiting for license

After the Prime Minister agrees on the establishment of IPP Air Cargo, the Ministry of Transport (MOT) will implement procedures to grant a license to the air carrier, according to MOT Deputy Minister Le Dinh Tho.

Master plan for Mekong Delta focuses on infrastructure development

The Master Plan for the Mekong Delta designed for 2021-2030, with a vision to 2050, is focused on infrastructure development.

Current monetary policy quite suitable

Many people are concerned whether the country will face a tighter monetary policy and higher exchange and interest rates in the near future.

Danang, a wedding destination for India’s billionaires

Could Danang be the wedding destination of choice for Indian billionaires? It certainly has the right hotels and quality wedding infrastructure for the purpose, an Indian tourism company representative said.

Big shortage of human resources for artificial intelligence

Vietnam is facing a big shortage of human resources for artificial intelligence.

VN to improve science and technology market to reduce reliance on imports

Vietnam plans to focus on improving the science and technology market with the establishment of three trading platforms in order to reduce reliance on imports, Minister of Science and Technology Huynh Thanh Dat has said.

Vietnam may not reach goal of 5 million int’l visitors in 2022

Vietnam’s tourism industry aims to serve 60 million domestic tourists in 2022. By the end of July, the figure was already over 71 million visitors.
back_to_top