Cashless payments rise 63% in January

Non-cash payment transactions in January surged 63.3 per cent in volume and 41.55 per cent in value year-on-year, the State Bank of Vietnam (SBV) has announced.

Payments on the internet rose 57.85 per cent in number and 32.43 per cent in value compared to January last year, the Bnews online newspaper reported.

Mobile banking transactions increased 68.54 per cent in volume and 41.12 per cent in value.

In particular, transactions using QR codes rose by a remarkable 892.95 per cent in number and 1,062.01 per cent in value.

The volume and value of point-of-sale (POS) transactions jumped 16.87 per cent and 13.65 per cent, respectively.

Meanwhile, transactions via ATMs fell 15.14 per cent and 18.76 per cent, respectively.