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Cash still king in e-commerce

Released at: 17:30, 12/05/2016

Cash still king in e-commerce

Measures needed to promote the use of e-payments in Vietnam.

by Hung Nguyen

E-payment is developing quickly in Vietnam but remains modest compared with other countries worldwide.

Ninety-one per cent of online customers continue to prefer cash payments, 48 per cent conduct bank transfers, and 20 per cent use a credit card, according to Ms. Nguyen Thi Nhieu from the Ministry of Industry and Trade (MoIT).

E-commerce faces a number of obstacles and difficulties in the country, she said, such as an inadequate legal framework, an absence of support policies, poor socioeconomic factors, and the use of cash and lack of belief in e-payments.

Despite e-commerce developing quickly its scale remains small and the proportion of e-commerce out of all commerce is still low, according to Ms. Tran Thi Thap from the Posts and Telecommunications Institute of Technology.

In order to improve e-payment methods, Ms. Nhieu suggested that the government be more active in creating favorable conditions for its development, for example using e-payments in its own affairs and creating a national e-commerce management system.

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