Vietnam targets 80% of cashless transactions in e-commerce activities by 2030, heard a seminar held in Ho Chi Minh City on June 14 as part of the annual Cashless Day 2025 program.

As of 2024, Vietnam had recorded over 204.5 million bank accounts held by individual customers and 154.1 million bank cards in circulation, according to the State Bank of Vietnam (SBV). Nearly 87% of Vietnamese adults now have bank accounts.

The interbank electronic payment system currently processes an average of VND820 trillion ($31.2 billion), and handles about 26 million transactions per day. 

Addressing the seminar, Deputy Prime Minister Ho Duc Phoc emphasized the growing role of cashless transactions, which enable faster payments and enhance financial transparency.

However, he acknowledged several ongoing challenges, including cybersecurity risks, online payment fraud, and disparities in digital infrastructure between regions. He urged the SBV to work closely with relevant ministries to refine the regulatory framework and foster innovation in payment systems, while also effectively managing associated risks.

On the sidelines of the seminar, a “Ting Ting Day” Festival was held to promote cashless payments and the development of the digital economy.