Following the epidemic, 32% of Vietnamese stopped paying with cash

DNHN - Before the effects of COVID-19, around 80% of users used cards, QR codes, and e-wallets at least once a week. Approximately half of the respondents stated they had begun to use cards more often, while 64 per cent and 63 per cent of users have increased contactless payments through mobile phones and e-wallets, respectively.

According to a Visa research on payment attitudes, 65 per cent of users in Vietnam stated they are restricting the amount of cash they carry in their wallets. Nevertheless, 32% of respondents said they would quit using cash after the epidemic. 

Users boost cashless payments when transporting persons with less money. Roughly 76 per cent of existing customers utilize e-wallets, and card users are even more numerous (82 per cent).

According to Ms Dang Tuyet Dung, Visa Director for Vietnam and Laos, the pandemic's short- and long-term effects have resulted in long-term changes in how customers purchase and pay. Users are increasingly opting for cashless payment options for reasons of security, infection prevention, and convenience.

People are compelled to convert to internet shopping, buy meals online, and pay cashless throughout the epidemic. However, in the post-pandemic world, internet commerce and cash alternatives will continue to exist.

During the epidemic, two-thirds of Vietnamese attempted internet purchasing, and half of Vietnamese bought for the first time on a social networking site.

Notably, 9 out of 10 customers now utilize home delivery services, and almost all of them use them more often than before the outbreak.

Before the effects of COVID-19, around 80% of users used cards, QR codes, and e-wallets at least once a week. Approximately half of the respondents stated they had begun to use cards more often, while 64 per cent and 63 per cent of users have increased contactless payments through mobile phones and e-wallets, respectively.

The ease of use of digital payment systems has long been a top customer requirement. Parallel to the problem of public health and safety, transaction security is also receiving a lot of attention.

Quoc Dat