Việt Nam targeted that the ratio of cash transactions should be reduced to below 10 per cent lower than the national plan of non-cash payment market for the period 2016-20. — Photo baocongthuong.vn HÀ NỘI — Viet Nam's interbank e-payment system handled 37 million transactions worth nearly VNĐ21 quadrillion (US$898.4 billion) in the first quarter of the year, up 23 per cent and 17.8 per cent respectively compared to 2018, according to the State Bank of Việt Nam (SBV). Nghiêm Thanh Sơn, deputy head of SBV’s Payment Department, said domestic payment of bank cards continued to increase in the period, reaching 65 million transactions worth a total VNDĐ171 trillion. The number and value of transactions performed online in the first three months of the year rose by 68.8 per cent and 13.4 per cent over the same period last year. Most banks have brought new technologies into their payment activities while accelerating … [Read more...] about VN banks handle $898.4 b through e-payments in Q1
10th c b s e result 2014
The Hanoitimes - Vietnam’s e-payment market is growing impressively as the number of Vietnamese people making mobile payments in stores this year has grown the fastest globally by 24 percent. Vietnam grows fastest in mobile payment among emerging countries Cashless payment to make up 50% of total transactions in Vietnam in 3 years: Expert Foreign funds bet on Vietnam’s e-payment platforms Vietnam c.bank to further push cashless payment: C.bank governor Fintech firms and banks will have to compete with telecom services providers who have recently received green light from the government to take part in the country’s e-payment market. E-payment share is growing among total payments in Vietnam The government has agreed to pilot the use of mobile phone accounts to pay for goods and services and transfer money in order to boost e-payment services and stimulate economic growth in the country. According to Nguyen Manh Hung, minister of Information and … [Read more...] about New rivals join Vietnam’s e-payment market
The Hanoitimes - Single-market merchants and digital payment will certainly become even more notable in the upcoming year. Vietnam e-commerce sales grow 20% annually Vietnam’s e-commerce, which is predicted to growth 43% from now until 2025, will go through 2019 with three notable dimensions in which single-market merchants would be the market trend. Illustrative photo Digital payment and entertainment while shopping would be other interesting market movements this year thanks to exciting activities experienced in 2018, according to Dang Dang Truong, Content Marketing Executive at iPrice Group. The rise of domestic single-market merchants Domestic single-market merchants such as Tiki, Thegioididong, and Sendo.vn are expected to outperform other rivals after impressive improvements in 2018 for attracting both user traffic and investment, according to iPrice’s data on the Vietnamese market. The most impressive is Tiki. Its monthly website … [Read more...] about Three dimensions of Vietnam’s e-commerce in 2019
Illustrative image (Source: blog.paycorp.co.za) Hanoi (VNA) – Vietnam’s e-commerce market is predicted to boom in the near future, given that 53 percent of the population uses the internet and nearly 54 million people use smartphones. Statistics from the Ministry of Industry and Trade (MoIT)’s E-Commerce and Information Technology Agency showed 70 percent of purchases via social media were made on Facebook this year, up slightly from 2017. Facebook was more regularly visited by shoppers, with 77 percent of online shoppers using it for purchases, compared to 5 percent on Zalo. Among more than 1,000 respondents to a survey by CBRE Vietnam, a quarter currently or previously sold products online. Some 66 percent used Facebook for sales, 49 percent used Shopee and 26 percent used Lazada. According to experts, trade volume via e-commerce reached 4.07 billion USD in 2015, hit 5.1 billion USD in 2016 and 6.2 billion USD in 2017. The figure is forecast to surge … [Read more...] about Vietnam’s e-commerce forecast to boom
Vietnam’s e-commerce websites are still receiving heavy investment to develop despite big losses, but when will these projects stop losing? The Vietnamese e-commerce market is one of the leading markets in the region for investment. According to Nielsen, the annual growth speed of the e-commerce market is 22% and is expected to hit US$10 billion in annual revenue by 2022 from the current US$4 billion. The Vietnamese e-commerce market shows huge potential for development and receives great attention from new investors. In a recent report by Topica Founder Institute, e-commerce attracted US$83 million of foreign investment through 21 deals. Startup SEA (used to be Garena, which was termed as a unicorn in Asia), ranked first among investors pouring capital into Vietnamese startups in 2017. SEA spent US$64 million acquiring 82% of the shares in Foody, a food delivery website and app. CyberAgent Ventures, a Japanese venture investment fund, continues its activities in Vietnam. In … [Read more...] about When will Vietnam’s e-commerce players stop “burning money”?