E ISSN: 2583-049X

International Journal of Advanced Multidisciplinary Research and Studies

Volume 4, Issue 1, 2024

Developing Electronic Payment forms in Vietnam

Author(s): Hoang Thi Thu Trang


Cash payments are less popular and are decreasing in most countries around the world. Instead, non-cash payment is an inevitable trend and a driving force in the process of developing global economic and trade. In fact, cash-based economies tend to grow slowly and miss out on significant opportunities in global trade. In contrast, economies that proactively transition to electronic payments achieve more success and take advantage of more advantages such as simplifying payment processes and macro-currency management. The result of a cashless economy is that trade grows, and fraud plummets. For developing economies, digital payments are an effective tool that simplifies financing for key economic players. In Vietnam since the outbreak of the epidemic, the shopping and payment habits of Vietnamese consumers have changed significantly as people desire to have safer, more convenient shopping experiences, avoiding risks. Transaction risks and asset loss. With e-commerce demand exploding, the electronic payment trend is also growing and more companies are embracing digital forms. The willingness to switch is evidence of how much the effort invested in new technology has been appreciated by consumers and how much they trust the convenience and security that cashless payments bring. This article studies the theory of e-commerce, the benefits that e-commerce brings, the current situation of developing electronic payment forms in Vietnam recently and offers solutions to promote activities. Electronic payments in the near future.

Keywords: Electronic Payment, Electronic Payment by Bank Card, Payment via Payment Gateway, Pay by Mobile, Pay by e-wallet

Pages: 1275-1278

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