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Digital payments in VIetnam surge in first two months of 2023

2023. 04. 14

Non-cash payment transactions witnessed a significant surge in the first two months of this year, indicating a notable shift in customers’ behaviour towards modern financial services.

Latest data of the State Bank of Vietnam (SBV) showed the volume of cashless transactions increased by 50.1% year-on-year, with QR code transactions posting the strongest surge of 142% in quantity and 50% in value.

Internet-based transactions saw an increase of 90.2% in volume and 10% in value, followed by mobile phone transactions with 60.3% and 13.9%, respectively.

POS transactions increased by 36.7% in volume and 29.7% in value.

Last year, digital payment reported an 85.6% increase in volume and a 31.4% increase in value compared to 2021. 

 

Source: VNA