The State Bank of Vietnam announced the 2025 Cashless Day programme, themed “Cashless payments promote the digital economy”, at a press conference held with Ho Chi Minh City authorities and industry partners. The launch was accompanied by updated official data on non-cash payment adoption, payment infrastructure and recent legal framework developments. State Bank of Vietnam figures put the value of non-cash payments in 2024 at over VND 295.2 quadrillion, around 26 times Vietnam’s GDP, with 86.97% of people aged 15 and above holding a bank account. By end-Q1 2025, non-cash payment transactions rose 44.43% year on year by volume, including increases of 40.41% via internet channels, 39.82% via mobile channels and 81.64% via QR codes; Mobile Money accounts across VNPT, Viettel and Mobifone reached 10.4 million, with more than 72% in rural, mountainous and remote areas. The update also covered market structure and infrastructure, including 47 e-wallet providers with around 30.27 million active e-wallet accounts, cross-border retail payment links with Thailand, Cambodia and Laos with further implementation underway with China and South Korea, and Q1 2025 processing of 35,665,760 interbank electronic payment transactions (VND 81,468,633 billion) and 2,453,426,745 NAPAS transactions (VND 14,972,645 billion). On the legal side, it referenced the revised Law on Credit Institutions effective 1 July 2024, including new provisions on electronic banking services, payment agency activity and a controlled testing framework, alongside subsequent work on decrees and implementing circulars for cashless payments and controlled testing. Organisers announced that the Ting Ting Day cashless festival will run from 14 to 15 June in Ho Chi Minh City, alongside a planned seminar on “Cashless payments: a driver of digital economy growth” aimed at developing proposals for 2026–2030.

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