The rise of digital payments and online shopping in Vietnam amid Covid-19 pandemic

• by MSC
• Dec 3, 2020
• 1 min

Despite remarkable progress toward digital financial inclusion, cash still accounts for 90% of transactions in Vietnam. The onset of COVID-19 saw restricted mobility, concerns over cash exchange, and increased demand for online shopping, digital payments, and delivery services. This video shares a glimpse of this change.

Vietnam has benefited greatly from digitized services in battling the pandemic. Wallets saw increased traction for P2P transfers, bill payments, and P2M payments for essential services, owing to the lockdown and aversion to the exchange of cash. Meanwhile, super apps like Grab, Zalo, MoMo, Now, and Tiki gained significance as they offer the convenience of online shopping, digital payments, and delivery services to the average Vietnamese.

The i3 Program, with support from the MetLife Foundation, creates opportunities for merchants to go digital and makes the digital ecosystem of Vietnam more inclusive and seamless.

This video explores the digital journey of Vietnam during COVID-19.