The Cashless Day 2024 took placed in Ho Chi Minh City between June 14 - 16 in the form of a miniature cashless society model where people and tourists can experience non-cash payment solutions and services, the Government News has reported. 

The three-day festival is among a series of events held as part of the Government policy to promote cashless payments and create a cashless society.

The event was attended by Deputy Prime Minister Le Thanh Long.

Addressing the opening ceremony, Deputy Minister of Trade and Industry Phan Thi Thang stressed that cashless payment helps to improve payment efficiency and safety as well as State management of tax.

Cashless payment infrastructure is ready and proves convenient for consumers, she said. Only 12% of consumers find a little obstacle in using this form of payment.

However, e-commerce only accounts for 8%of the country’s retail sales, much lower than the world average of 19.4%, she said.

Cashless payments account for only 50% of e-commerce, which means there is great potential for growth, she said.