Vietnam’s deputy prime minister has signed a policy to dramatically reduce cash transactions and improve electronic payment methods by 2020. The new plan aims to turn Vietnam into a cashless economy and fundamentally change the payment habits of the Vietnamese. It seeks to reduce cash transactions to less than 10% in all supermarkets, shopping malls and distributors by 2020. One of the reasons for this move lies in Vietnam’s e-commerce market. Worth US$400,000 in 2015, the e-commerce market is expected to grow to US$7.5 billion in 2025. http://ift.tt/2BhxAMa
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