The DITP has advised Thai exporters to combine with e-wallet providers to offer Thai products on the Vietnamese market, according to a press release dated March 31.
“Thai exporters and entrepreneurs should join with e-wallet providers in Vietnam to organise co-promotion activities to reach out to consumers, especially the younger generations,” DITP Director-General Phusit Rattanakul Sereeruengrit said.
The DITP Director-General added that electronic payments in Vietnam show a high potential for growth as most of the Vietnamese population are at a working age and are familiar with technology. Both the Vietnamese government and businesses are promoting e-Wallet and payment applications. Therefore, electronic payment allows businesses easier access to consumers.
According to the National Payment Corporation of Vietnam, in 2021, cashless transactions amounted to US$1.033 billion, a 169% increase on the previous year.