Vietnam, Cambodia launch QR code payment system
The move is aimed at facilitating cashless payments in both countries.
The move is aimed at facilitating cashless payments in both countries.
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It is expected that there will be cashless streets in every district of the capital.
Among all payment methods, QR code-based payments grew 160% in volume and 40% in value from January to May.
The banking industry needs to continue investing in shared payment and credit information infrastructures.
The event targets to attract young consumers to access and experience modern payment services.
The service would go through a nationwide pilot implementation phase for two years.
Mobile money services will be promoted in Vietnam, with priority given to regions where the prevalence of banking services is still low.
The request from the State Bank of Vietnam is expected to help people overcome difficulties during the Covid-19 outbreak and push cashless payment.
The Covid-19 pandemic is fostering cashless payment, making it more popular in Vietnam.