Low credibility hinders development of e-commerce in Vietnam
Up to 90% of online shoppers in Vietnam still prefer cash payment over online transactions, mainly due to security concern and a preference to check product quality before paying.
Up to 90% of online shoppers in Vietnam still prefer cash payment over online transactions, mainly due to security concern and a preference to check product quality before paying.
Cash has constituted 11.3% of total means of payment as of December 31, 2019.
Vietnam’s government is scheduled to integrate an additional 15 – 20 public online procedures to the national public services portal on March 13, with a focus on e-payment services.
Over 50% of the Vietnamese population does not have a payment account at banks, therefore, mobile money would offer a non-cash payment method for a large base of customers.
Vietnam must grasp opportunities from the internet economy, which is estimated to have a combined value of US$100 billion in Southeast Asia, and is on track to increase by three-fold in the next five years, said a government official.