Illustrative photo. (Source: tapchitaichinh.vn)
Some 93.38 percent of electricity customers have shifted to cashless payment so far, compared to last year’s 91.72 percent, according to the State-owned Electricity of Vietnam (EVN).
Non-cash payment has been highly regarded by users as a safer and more convenient way to pay power bills as it helps prevent the spread of COVID-19 by limiting physical contact.
The EVN has been providing cashless payment services on its customer services mobile app, official websites and the national public services portal. Additionally, the group has cooperated with banks and payment intermediary service providers to offer customers with a wide range of options to make digital payments, for examples, through banking accounts, e-wallets and QR codes.
The company has also worked with its partners to give away promo codes and gifts in a bid to encourage more users to turn to non-cash payment.
According to AppotaPay's forecast, Vietnam’s cashless payment market will grow strongly in the next three to five years. In particular, mobile money and e-wallets will be key services to help expand non-cash payments share in Vietnam.
A recent report by the Government showed out that cashless payments continue to become more popular, topping 36.28 quadrillion VND (1.6 billion USD) in the first nine months of 2021.
During the period, 435.25 million transactions worth 22.78 quadrillion VND were made via the Internet, up 54.1 percent in volume and 30.7 percent in value. More than 1.19 billion others worth over 13.5 quadrillion VND were conducted via mobile phone, surging 74.98 percent in volume and 93.69 percent in value.
VietNamPlus