Hanoi establishes cashless streets

On the morning of October 7, the Hanoi Department of Information and Communications coordinated with the People's Committee of Hoan Kiem District, the State Bank of Hanoi and the Department of Industry and Trade to organize the event "Launching cashless payments in Hoan Kiem District". This is the district chosen to pilot the construction of cashless streets in the city.

After today, Hoan Kiem district will select specific streets such as walking streets, book streets, food streets, some shopping centers, traditional markets, etc. to put up signs recognizing "cashless streets", and then expand them throughout the area.

"Up to today, when making transactions on the streets of Hoan Kiem district, even with a cost of less than 10,000 VND, people can still pay by bank transfer or QR code scanning with businesses and enterprises.

It can be said that Hoan Kiem district is ready for a strong transformation in cashless payment methods."- Mr. Pham Tuan Long, Chairman of Hoan Kiem District People's Committee emphasized.

At the event, Mr. Ha Minh Hai, Vice Chairman of Hanoi People's Committee emphasized that with the trend of the fourth industrial revolution, promoting e-commerce, digital transformation and cashless payments is an inevitable trend.

Cashless payments are gradually becoming popular with many classes of people, from office workers, small traders to freelancers; from commercial activities to public services; from cities to rural areas.

The implementation of cashless streets creates favorable conditions for people to experience new and modern forms of payment, helping them quickly access applications and utilities in the digital age, contributing to building digital citizens and building a digital society.

This is also a step-by-step way to support digital payment methods to become the main payment tool in people's transactions of buying and selling goods, creating momentum for the development of smart digital payment services.

Cashless streets will also contribute to improving payment transparency, diversifying sales networks, and gradually perfecting the consumer database.

Sharing at the event, Mr. Pham Anh Tuan, Director of the Payment Department of the State Bank of Vietnam, stated that cashless payments create transparency, convenience, and benefits not only for consumers but also for suppliers. That is the convenience in the process of trading goods, managing cash flow, cash flow...

In addition, related systems such as public services are also promoted through electronic payments. Tax management is also increasingly transparent when vending machines and bill payment machines are connected to the system and strictly controlled.

The event "Cashless payment in Hoan Kiem district" took place from October 7 to October 8 with the participation of a number of relevant departments and 10 banks and businesses providing cashless payment services.

This is one of the important events in response to the National Digital Transformation Day on October 10, 2023 of Hanoi City and is the opening event for the widespread deployment of non-cash payments in all districts, towns and cities in the city in the coming time, contributing to accelerating the digital transformation process and developing the digital economy of the Capital.

With this event, the city creates conditions for banks and organizations providing non-cash payment services to introduce products and services in a competitive and healthy manner; aiming at the goal of people, organizations and individuals doing business to access and use products and services conveniently and easily.

At the same time, the city encourages businesses to promote cashless payments, aiming to form civilized and modern streets, contributing to the development of the capital's digital economy.