According to a report by Vietnam National Payment Joint Stock Company (Napas), many people are more accustomed to spending through cards, banking applications, instead of cash withdrawals.
If in 2018, 62% of people use bank cards to withdraw cash, this figure has decreased to 42% in 2019. Data from Napas shows that people tend to shift from cash withdrawal to spending. money, to non-cash payments via electronic banking channels.
In fact, on banking applications, many services are available such as paying for electricity, water, and telephone, then allowing to link with e-commerce sites to buy many other items. The total value of transactions in these forms increased by more than 170% last year.
Banks also continuously launch promotions, refunds for card spending to encourage people to pay without using cash, reduce the load for cash withdrawal needs that cause congestion at ATMs at the end of the year.
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