Nearly 93.4 percent of power users shift to cashless payment
Some 93.38 percent of electricity customers have shifted to cashless payment so far, compared to last year’s 91.72 percent, according to the State-owned Electricity of Vietnam (EVN).
Hanoi (VNA) – Some 93.38 percent of electricitycustomers have shifted to cashless payment so far, compared to last year’s 91.72percent, according to the State-owned Electricity of Vietnam (EVN).
Non-cash payment has been highly regarded by users as a saferand more convenient way to pay power bills as it helps prevent the spread ofCOVID-19 by limiting physical contact.
The EVN has been providing cashless payment services on itscustomer services mobile app, official websites and the national public servicesportal. Additionally, the group has cooperated with banks and payment intermediaryservice providers to offer customers with a wide range of options to makedigital payments, for examples, through banking accounts, e-wallets and QRcodes.
The company has also worked with its partners to give away promocodes and gifts in a bid to encourage more users to turn to non-cash payment.
According to AppotaPay's forecast, Vietnam’s cashlesspayment market will grow strongly in the next three to five years. Inparticular, mobile money and e-wallets will be key services to help expandnon-cash payments share in Vietnam.
A recent report by the Government showed out that cashlesspayments continue to become more popular, topping 36.28 quadrillion VND (1.6billion USD) in the first nine months of 2021.
During the period, 435.25 million transactions worth 22.78quadrillion VND were made via the Internet, up 54.1 percent in volume and 30.7percent in value. More than 1.19 billion others worth over 13.5 quadrillion VNDwere conducted via mobile phone, surging 74.98 percent in volume and 93.69percent in value./.
The prolonged COVID-19 pandemic has unexpectedly created "golden" conditions for the financial industry to accelerate digital transformation and shift to cashless payments.
With a few clicks on an e-wallet platform installed on her mobile phone, Do Nhu Hoa, a 38-year-old office worker in Hanoi, can easily pay for her electricity and water bills.
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Illustrative photo. (Source: tapchitaichinh.vn)
