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Cashless payment shows no signs of slowing down in Vietnam

New payment methods, such as e-wallets or QR code scanning, have grown significantly in Vietnam, and the trend shows no signs of slowing down. Commercial banks and e-wallet companies said that cashless transactions are even more popular now than during the COVID-19 pandemic. Ngo Trung Linh, General Director of Viet Union Online Services Corporation, said its Payoo payment platform recorded increased cashless payment transactions in the post-COVID recovery phase in 2022. QR payments have even gone international. National Payment Corporation of Vietnam (NAPAS) and Thailand’s National ITMX (NITMX) recently announced the completion of a retail payment connection using QR codes. NAPAS will continue to cooperate with NITMX to expand member banks to meet the demand of tourists in the two countries this year.


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