Payment without cash has become an indispensable trend, because of the convenience its bring to people and the economy. Currently, banks are working to provide services and products to encourage non-cash payment according to the Government, State Bank's policy.
Non-cash payment is the growing trend. In photo: Customer make payment by debit card in Binh Duong Co. Opmart Supermarket.
To change consumer habits
With the development of payment systems, such as bank cards, internet banking, mobile payments, e-wallets, people have more convenient, smarter and faster financial tools to support billing, daily spending instead of using cash.
Nguyen Ngoc Chau (Chanh Nghia ward, Thu Dau Mot City), said that in two recent years, she rarely used cash but bank cards to make payment. "I have my salary paid through banking account, but I've no longer went to ATM or bank to withdraw cash, because this takes much time, and cash keeping is more dangerous. Moreover, the payment by bank card helps me manage spending easily", said Ms. Chau. She said, not only as shopping within the country but also as traveling abroad, using credit cards is more economical, safer than cash payment. Nguyen Thi Xuan An (Phu Hoa Ward, Thu Dau Mot City), also said that office people had to work with computers most of the time; thus recently 70% of her daily spending have been made online using credit card.
Currently, many banks are cooperating with restaurants, shops, supermarkets, travel agencies to encourage non-cash payment, card payers receive many incentives, even a 5- 10% discount on every purchase, get an extra meal or coupon for every next purchase. Nguyen Ngoc Hong (Chanh My ward, Thu Dau Mot City), said she had recently purchased a computer in a shop on Binh Duong Avenue, and paid via QRPay code. Just a few small operations, she completed the payment and also saved a small amount.
Currently, there are some banks that catch this new trend of users by continuously launching products, utilities, attractive incentives to encourage users to make non-cash payment. For the payment, instead of having to use cash or coming directly to shops, customers will be much easier to simply opening an account on mobile banking app, then pay all kinds of bill or connect with e-wallets to pay for your daily shopping. Moreover, banks and organizations owning e-wallets often cooperate with many businesses in fields of insurance, dining, transportation... to attract users.
A good transformation
The banking industry determines the digital transformation strategy as a permanent task in the development process. Therefore, strategies of banks are aiming to digital transformation to bring customers convenience, benefits, and safety.
Saigon Bank representative said this bank built up a non-cash-based payment system consisting of card payments, mobile payment and e-commerce. Besides, the role of intermediaries as a long extended arm of banks, which helps the non-cash payment services reach to small shops. Banks also develop new card products with many features and utilities to encourage people to use their cards in payments to be safe and useful.
According to Tran Ngoc Linh, Director of BIDV Binh Duong, said the Covid-19 epidemic has contributed to changing the payment habit of many people. Customers have switched to online payment via online banking services, cards or e-wallets. Besides, money transfer, online savings via internet banking, smart banking are also increasing rapidly, which is a favorable condition for the banking industry. The government enhances non-cash payments, and benefits of this new payment method also contribute to the change of consumer behavior.
Le van Be Muoi, Deputy General Director of Viet Capital Bank, said: "Accelerating the speed of modernization, changing customer experience through the construction of a new digital bank is an important strategy of our bank. Therefore, cooperation with large technological partners to come up with effective solutions is our top priority".
Reported by Thanh Hong - Translated by Ngoc Huynh
