News
Vietnam: The Habits of Using Cash Still Popular Despite the Boom of Cashless Payments
Source: IntellAsia
At the press conference to account the results of the entire banking industry on June 21st, the updated data from the State Bank of Vietnam (SBV) showed that by the end of April 2021, there were over 79 internet payment service providers and 44 mobile payment service providers in the market. The entire market currently has about over 270,000 POS and over 19,000 ATMs.
However, it is worth noting that while cashless payments are booming, the proportion of cash in the total means of payments is still very high and even tends to increase.
Specifically, the proportion of cash in the total means of payments was 11.05 percent by the end of 2020,11.53 percent by the end of April 2021, equivalent to about 1,430 trillion dong.
About this News Item
Published
Latest from Our Blog
View all blog posts
Is There a “Steel Bullet” for Helping Businesses Grow?
Financial diaries which provide microentrepreneurs with tailored business reports are helping them to grow their businesses, showing the power of access to data.
Working to Promote Food Security in Burkina Faso
Claire Lossiané of YIKRI, winner of the 2023 European Microfinance Award, reflects on the MFI’s programs to combat malnutrition.
India’s Digital Divide Threatens the Progress of Financial Inclusion
There are three key challenges that need to be addressed to fulfill the promise of India's much-lauded digital public infrastructure, as mobile phones and internet access remain inaccessible for a significant segment of the population.