Non-cash payments have become more popular in Vietnam since COVID-19 struck, with growth in e-commerce transactions in the hundreds of percent.

The government has introduced several policies on developing cashless payments but potential is still to be fully tapped due to uncertainties among consumers, especially regarding information security.

Experts say it is necessary to introduce a proper legal framework on cashless payments and a requirement that certain payments, such as taxes and service fees, are only payable online.

Only time wil🐬l tell whether cashless payments will replace the pref🌺erence for cash in Vietnam./.