Small traders adapt to digital payment
Records at Ben Thanh market show that more and more stalls have proactively pasted QR codes, supporting customers to pay via bank transfer or e-wallets. Not only domestic customers, many international tourists also choose this form to avoid having to exchange cash or calculate exchange rates.
At a souvenir stall, Ms. Nguyen Ngoc Anh - a small trader at Ben Thanh market, said that customers coming to the market are increasingly favoring QR code payment methods, especially young customers and foreign customers.
There are days when more than half of customers transfer money. Customers find it convenient, and I also don't have to prepare a lot of small change" - Ms. Anh shared.
According to many small traders, the application of digital payments not only helps transactions to be faster but also limits confusion in the buying and selling process. Some large business households also combine selling goods through social networks, receiving remote transfers to deliver goods to customers.
Mr. Le Van Vy - a small trader selling specialties at Hoa Binh market - said that cashless payments are becoming increasingly popular, so if they want to retain customers, sellers are forced to change. According to him, many customers today almost no longer carry a lot of cash when shopping.
Previously, customers asked for transfers, but now they are available almost every day. If I don't have a QR code or electronic payment support, customers can easily go elsewhere to buy," Mr. Vy said.
Promoting trade and digital payment strategies
Mr. Nguyen Nguyen Phuong - Deputy Director of Ho Chi Minh City Department of Industry and Trade - said that the city has issued a trade development strategy for the period 2026-2030 and is developing a implementation plan, including a project to develop e-commerce to 2030.
According to Mr. Phuong, one of the key tasks is to continue to implement the Shopping Season centralized promotion program to stimulate consumer demand and support retail businesses. However, the development of deep discount programs over 50% must comply with many strict regulations, so the city is seeking business opinions to find the most suitable model.
We have to calculate very carefully to both stimulate consumer demand and ensure compliance with legal regulations on promotions" - Mr. Phuong said.
In addition to stimulus programs, Ho Chi Minh City is also particularly interested in the digital payment problem at traditional markets and grocery stores - an area considered to have much room for development.
According to the leader of the Department of Industry and Trade, in modern supermarket systems, the application of payment technology is almost complete due to the great competitive pressure between retail businesses. Units continuously upgrade services to retain consumers.
Conversely, in traditional markets and small retail stores, many solutions have been implemented but the effectiveness is not high.
The reason is not because this model is impossible, but because in the past, we had not surveyed and understood the needs of small traders correctly. The implementation is still spread out, not going in the right direction" - Mr. Phuong assessed.
After implementing the two-level government model, Ho Chi Minh City currently has 168 wards and communes with a large workload. Many localities are proactively proposing to coordinate the pilot implementation of the cashless payment model at traditional markets instead of mass deployment.
According to the leader of the Department of Industry and Trade, the city's viewpoint is to "pilot first, do as far as possible" to assess the actual effectiveness before expansion. The Department of Industry and Trade of Ho Chi Minh City expects that with the companionship of technology businesses, banks, media agencies and local authorities, the expansion of digital payments will create more motivation for small traders, helping traditional markets adapt to new consumption trends, and expand the ability to reach customers, especially international customers.
