#vietnam #fintech in a Flash — Part II : #digital Payment
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Vietnam Fintech in a Flash — Part II: Digital PaymentNOTE: If you haven’t read Part I, please read it up here: Part I: Grasping Vietnam’s Financial Technology Landscape.Currently, the level of fintech penetration in daily use remains low. A survey by World Bank reviewed that the number of non-cash transactions over population was merely 4.9%, comparing to 59.7% in Thailand and 89% in Malaysia. Dao Minh Tuan, vice chairman of Vietcombank and Chairman of the Vietnam Bankcard Association, stated that roughly 90% of Vietnamese daily spendings are cash-based. Consequently, the payment landscape in Vietnam attracts a lot of fintechs, with 47% of local fintechs serving this segment, per the EY’s ASEAN Fintech Census 2018.Payment FinTechs density in ASEAN countries as of December 2017. Source: (...)