Among six countries included in the report, cash payments account for over 70% of transactions in Philippines and Indonesia and 43% in Singapore.
The percentages of Vietnamese people owning a bank account or using credit and debit cards are very low, while cash payments used for online shopping is over 90%. Despite these numbers, experts believe non-cash payment still has a viable future in the region. According to the State Bank of Vietnam, the total value of transactions via e-wallets in 2017 was at 2.2 billion USD, up 64% compared to 2016.
