Visa, a world leader in digital payments, is introducing resources to help merchants in Vietnam, especially small and medium-sized businesses, accept and take full advantage of Visa’s digital payment solutions. This is part of Visa’s commitment to empower Vietnamese SMBs and boost the national economy, by accelerating their contactless payment acceptance.
The toolkit, available at Accept Payments | Visa Merchant Accounts, provides step-by-step instructions and addresses common questions from merchants in Vietnamese and English, so that they can successfully initiate and process contactless transactions. The toolkit also showcases the universal Contactless Indicator featured on contactless Visa cards and the Contactless Symbol present on all contactless readers. Customers can conveniently tap their Visa card or any contactless-enabled device on a contactless terminal to make payments – a preferred way to pay since COVID-19.
The Visa Consumer Payment Attitudes study found that the cashless wave in Vietnam maintained its progressive pace, with majority of surveyed consumers (88%) having attempted to go cashless. Vietnamese consumers also showed an emerging preference for contactless payments, both on physical cards and mobile digital payments. Globally, Visa’s tap to pay penetration reached 65%, doubling from 2019. In Vietnam, over 70% of face-to-face transactions made on Visa cards are contactless. This reaffirms consumers’ rising confidence in contactless payments and the growing expectation for SMBs to meet this demand.
“Consumers in Vietnam and around the world are increasingly adopting to contactless payments for their speed, convenience and security, prompting merchants to expand their range of accepted payment methods,” says Ms. Dung Dang, Visa Country Manager for Vietnam and Laos. “Visa is committed to empowering SMBs in Vietnam with the latest financial and payment solutions, so that they can thrive on their growth potential. With this new online toolkit, we hope to facilitate the widespread adoption of digital payments among SMBs to better address consumers’ preferences and demands, and in turn, accelerate the transition to a cashless society in Vietnam.”
