Cashless Day Festival is launched in HCM City

With the theme ‘Promoting the Development of Safe Cashless Payments,' the 2024 Cashless Day Festival is among a series of events to celebrate the 2024 Cashless Day (June 16), gathering commercial banks, e-commerce companies, intermediary payment service providers, businesses majoring in fashion, food, consumer products, and utility firms.

The initiative is co-organized by Tuoi Tre (Youth) newspaper in collaboration with the Ho Chi Minh City Department of Industry and Trade and the Payment Department of the State Bank of Vietnam.       

Speaking at the opening ceremony, Ms. Phan Thi Thang, Deputy Minister of Industry and Trade, said that cashless transactions are an inevitable trend to improve payment efficiency, promote safety in circulation, and improve the efficiency of state management in tax activities. The Ministry of Industry and Trade will create conditions to promote and give people confidence in cashless shopping.

In Vietnam, cashless payment only accounts for 50% of e-commerce. To date, 12% of consumers still consider cashless payment as an obstacle.