ANTD.VN - Instead of paying by cash, the image of grocery stores and traditional markets with QR codes, customers holding up their phones to "scan" and transfer money is becoming more and more familiar.
Ms. Hoa, a trader at Phu Lam market (District 6, Ho Chi Minh City) said that since her stall started using QR code for payment, fewer and fewer customers have chosen to pay in cash.
"Sometimes customers give me too much cash, so I have to find the change, which is very time-consuming. When paying by QR code, I just need to scan my phone and the money will be transferred to my account, which is fast and convenient for both me and the customer," Ms. Hoa shared.
Not far from Ms. Hoa is Ms. Lan's stall, which specializes in selling clothes. She shared that since VPBank staff helped her set up an account to pay via QR code, her business has become much easier.
“My customers often use QR codes for convenient payment, especially customers who like to use cards. I have also introduced some friends in the market to open a bank account with me,” said Ms. Lan.
Organizing events right at the market to support traders in creating accounts, QR codes, and credit cards is one of the strategies that VPBank has been actively implementing recently. The bank's goal is to help traders quickly get acquainted with technology and digitalization.
Direct access
Since the Covid-19 pandemic, the use of non-cash payment methods has increased dramatically. Figures from the State Bank of Vietnam (SBV) show that non-cash payments increased by more than 51% in the first 7 months of 2023.
In the goal of national digital transformation, cashless payment is a major policy, recognized by the State Bank as an inevitable trend in the economy.
Of these, small traders and business households are of particular interest because this is the group with the largest proportion. According to Nielsen data, Vietnam has about 1.4 million grocery stores and 9,000 traditional markets, accounting for 75% of the market share, equivalent to a revenue of 10 billion USD/year. Traditional retail channels are still meeting up to 85% of people's consumption needs.
Although small traders and business households are a major contributor to economic development, they are also slow to adapt to technological changes, because using cash to buy and sell at the market has been a traditional payment method for many generations.
Understanding the problem, banks have changed their approach when implementing programs for small business customers. Instead of online programs, banks choose a more direct approach.
At Phu Lam market, VPBank has just organized the event "Digitalization Day for Small Traders 4.0" right at the market, with the participation of local agencies to guide and create habits for market stall owners to make cashless payments.
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At the event, VPBank gave many gifts to small traders and customers. |
Up to now, the stalls in the market from clothes, shoes, cosmetics all have QR codes pasted on the door. People only need a smartphone with internet connection to easily “scan” and transfer money for all transactions.
“VPBank’s approach of directly guiding small traders at the market to use the bank’s products and services is very good, it should be implemented more so that more people know. I have also introduced VPBank’s services to some friends who are also doing business,” Ms. Lan shared.
Spread the event
According to VPBank representative, the implementation of electronic payment methods of the bank is not only limited to supermarkets, shopping malls, restaurants, etc. but has now reached small business models such as sidewalk stalls and traditional markets. Thereby, helping small traders and people going to the market access modern payment technology, minimizing risks when using cash. Moreover, the management of cash flow and digitization of sales books of small traders are also optimized more effectively and accurately.
The events held directly with Phu Lam market traders have practical significance, contributing to creating conditions for traders to access VPBank's superior cashless transaction methods.
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VPBank staff directly go to merchants' counters to guide them on how to use the service. |
“Small traders will gradually establish the habit of using modern products, services and utilities provided by banks in the new consumer trend, better supporting their business activities,” shared a VPBank representative.
After 1 week of implementing the event at Phu Lam market, hundreds of new VPBank NEO accounts were opened, many merchants were interested in credit card products and wanted to be supported and consulted. VPBank will continue to implement more events at other markets such as Hoa Binh market, Kim Bien market and surrounding streets.
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VPBank NEO provides full range of cashless payment methods with many attractive incentives. |
Retailers quickly adapt to new technology products thanks to the friendliness of the VPBank NEO application - the all-in-one digital banking application. Since its launch by VPBank, VPBank NEO has always been at the forefront of providing customers with a full range of cashless payment methods along with many other incentives and freebies.
These include free interbank money transfers, free withdrawals at all ATMs; free account opening with a beautiful account number and vouchers up to 200,000 VND for new customers opening an account; free QR code for accounts and an additional 500,000 VND for business owners using QR codes; preferential opening of POS machines (card swiping machines) with the best fees on the market, from only 1.2%...
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