Payoo predicts that in the last 6 months of 2024, the retail industry will recover strongly.

Payoo has also just published a report evaluating the results of cashless payments in many industries.

QR payments still lead in growth rate with 2.5 times increase

Payoo has just published a report evaluating the results of cashless payments in many industries, recording breakthrough growth in the F&B, tourism, retail industries...

Along with the economic recovery, cashless payments have spread widely. The total value of cashless payments via Payoo increased by 58% compared to the same period last year. QR payments still lead the growth rate with an increase of 2.5 times, followed by international card payments with an increase of 64%, domestic cards increased by 7%. In particular, contactless payments via NFC are more popular, accounting for more than 65% of total card transactions.

The number and value of F&B transactions through the system increased by 38% and 54% respectively. Payment by international cards still dominates but slightly decreases with 65% of the number of transactions, followed by QR code scanning with 30% and domestic cards with 5%. In addition to food and beverage, tourism is also a field that has recovered strongly with the number of domestic and international tourists continuously increasing. Payoo's records in the first half of this year also show that the rate of using international cards issued abroad via the Payoo payment platform increased by 2.6 times in quantity and 2.5 times in value compared to the same period last year, mainly in the fields of: food and beverage, shopping at shopping malls.

Payoo forecasts that the last 6 months of 2024 will be a period of strong recovery for the retail industry thanks to two peak shopping seasons: summer and the year-end holiday season. Promotional programs from financial institutions and brands themselves, combined with the "concentrated promotion month" launched by the Department of Industry and Trade of localities, will play an important role in stimulating consumption and creating momentum for the economy.

And from the end of June this year, Napas, Mastercard and Payoo will coordinate to launch an attractive promotion program nationwide with the participation of nearly 40 partners, hundreds of brands and thousands of stores. This is an opportunity for businesses to boost purchasing power, consumers to experience the superior benefits of contactless payments and the retail market to be supported to recover and develop comprehensively.

KIM THANH

Source: https://www.sggp.org.vn/payoo-du-bao-6-thang-cuoi-nam-2024-nganh-ban-le-se-phuc-hoi-manh-me-post744491.html