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Da Nang residents try out digital payment methods at cashless fair

Da Nang residents try out digital payment methods at cashless fair

Monday, June 27, 2022, 14:01 GMT+7
Da Nang residents try out digital payment methods at cashless fair
A fair is organized by the Cashless Ride program in Da Nang City, Vietnam, June 26, 2022. Photo: T.T.D. / Tuoi Tre

The Cashless Ride program, as a part of this year’s Cashless Day, organized a fair in Da Nang City, central Vietnam on Sunday to introduce digital payment methods to local residents.

The event attracted many residents and tourists, especially young people.

Participants had an opportunity to experience cashless payment technologies as well as play games and win prizes offered by the program’s partners, namely NAPAS, Sacombank, MBBank, HDBank, VNPT Money, SHB, and Nam A Bank.

The fair was an activity organized by the Cashless Ride, one of the programs within the framework of this year’s Cashless Day.

The day has been marked annually on June 16 since 2019 by Tuoi Tre (Youth) newspaper and the State Bank of Vietnam.

Cashless payments are a mainstream trend in many countries nowadays, said Vo Minh, director of the State Bank of Vietnam's Da Nang branch.

Digital payments in Da Nang have grown strongly in recent years, with a variety of payment methods including bank cards, Internet banking, mobile banking, and QR codes widely used by local residents, Minh elaborated.

The city’s cashless payment value was estimated at VND416 trillion (US$17.8 billion) in 2021, up 61 percent compared to 2020.

There are many technologies and services supporting digital payment in the country, but programs such as the Cashless Ride are necessary to help change the payment habit of local residents, Minh stated.

Lam Huu Tien, deputy director of Sacombank's Da Nang branch, said that the lender has coordinated with several local schools, allowing them to accept tuition payments via cashless methods.

Representatives from Military Bank (MB) and Nam A Bank also introduced several cashless payment utilities for local residents and merchants.

The Cashless Ride, consisting of three vehicles, departed from Hanoi on June 19 and was set make stops in multiple localities in the country, including north-central Nghe An Province on June 21, Da Nang on June 26, and south-central Khanh Hoa Province on June 29, before concluding its journey in Ho Chi Minh City on July 3.

The convoy promotes existing payment technologies in Vietnam and lets people try them out to help spread the message of the digital transformation process in the field of payment.

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Duy Khang - Tan Luc / Tuoi Tre News

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