“Non-cash payment is not just a transaction method but a strategic foundation connecting all components of the digital economy,” an official from State Bank of Vietnam's payments department told the media during a press conference on the launch of Ho Chi Minh City’s Cashless Day programme.

The programme, with the theme "Cashless Payment for Digital Economy Promotion," seeks to encourage non-cash payment adoption, enable a sustainable cashless ecosystem and contribute to digital transformation in the country.

The event will run until July with game shows, workshops and shopping promotions.

A highlight is the "Ting Ting Day" festival on Nguyen Hue pedestrian square in District 1 on June 6, showcasing payment technology experiences, mini-games, workshops, and digital transaction security solutions.

The programme is expected to draw 50,000 people and over 50 million online transactions.

According to the central bank's payments department, non-cash payments were worth 295.2 quadrillion VND in 2024, or 26 times the country's GDP.

By the end of last year, 86.97% of people aged 15 and above had bank accounts.

In the first quarter of this year, non-cash transactions increased by 44.43% year-on-year.

Nearly 10.4 million mobile-money accounts exist, almost a third in rural, remote and island areas.

As of March, the country had 30.27 million active e-wallets with over 2.8 trillion VND and 47 e-wallet providers.

The event was organised by the State Bank of Vietnam, Tuoi Tre (Youth) newspaper, the HCM City Department of Industry and Trade, and National Payment Corporation of Vietnam./.VNA