In-depth
VN tops the world in growth of mobile payment users
  • | VGP | May 22, 2019 07:24 PM
The number of Vietnamese people making mobile payments in stores is growing fastest, according to a survey by PcW.


Viet Nam tops the world in growth of mobile payment users. Graphics designed by VGP

The survey shows that the percentage of consumers using such services in-store increased by 24 percentage points to 61% in 2019.

Meanwhile, in the Middle East, the percentage grew by 20 percentage points, to 45% and 34% of consumer paid for purchases using mobile payment in-store, up from 24% a year earlier.

The findings confirm that smartphones have become to go-to technology for online shopping, with 24% of global sample using a mobile phone to shop at least weekly, compared with 23% using a PC and 16% using a tablet.

As consumers become more familiar with and trusting of digital technology, they are going online for other services too. About 51% of the survey respondents paid bills and invoices online in 2018.

Many younger consumers also go to online sources first for news and current affairs and 39% of them said they go directly to social media for information, compared with 25% overall.

Viet Nam ranks 25th out of 39 countries and territories in terms of the number of smartphone users.

Earlier this year, the Government adopted Resolution No. 02 on major tasks and solutions to continue improving business environment and national competitiveness in 2019 and orientations to 2021.

Under the resolution, the Government tasked the State Bank of Viet Nam to coordinate with the Ministry of Finance to develop and make public the list of transactions that must be conducted compulsorily via banks.

The central bank is also asked to submit a proposal to the Government for amending legal regulations in a bid to encourage cashless payments in real property transactions.

The Government also asked the central bank to take prime responsibility in designing and submitting a draft decree on amendments to Decree No. 222/2013/ND-CP on cash payment by the end of December this year.

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