Vietnamese consumers are quickly adopting a range of digital payment methods, according to the Visa Consumer Payment Attitudes study released by Visa on June 1.

The study found an emphatic shift in payment habits. Sixty-five per cent of Vietnamese are now carrying less cash in their wallets and 32 per cent said they would stop using cash after the pandemic. This was perhaps evidenced by significant gains in cashless payments. Almost 76 per cent of consumers now use mobile wallets and more than 80 per cent use cards.

“The impact of Covid-19 cannot be ignored, neither in the short term or the long term,” said Ms. Dang Tuyet Dung, Visa Country Manager of Vietnam and Laos. “It has resulted in lasting changes in the ways consumers are choosing to make purchases and in how they pay. Success for merchants and businesses rests on their ability to evolve and transform with these changes.”

Online shopping and cash alternatives are all likely to stay post-pandemic. Two-thirds of Vietnamese tried shopping online during the pandemic and half of them made their first purchase through social media. Nine out of ten consumers are now using home delivery, and almost all of them use it more often than before the pandemic.

In addition, due to the pandemic, more than 80 per cent of Vietnamese now use cards, QR payments, or mobile wallets at least once a week. Meanwhile, a solid half of all Vietnamese have begun using cards more often, while 64 per cent and 63 per cent have increased their usage of mobile contactless and mobile wallet payments. Convenience seems to be the highest rated factor in consumer preference across digital payment methods, followed by safety from infection and transaction security.