Vietnams ecommerce growth reached 30% in 2018, with a total retail revenue of USD 8 billion.According to a report of the ministrys Ecommerce and Digital Economy Agency, a quarter of 1,000 surveyed people make transactions through international and Vietnamese social networks such as Facebook and Zalo.
According to Xinhuanet, there are 64 million internet users in Vietnam, 57% of its population. With the increasing internet penetration, mobile devices and social networks, more and more individuals are using ecommerce. As the agencys report shows, the legal system and enforcement agencies are still weak. At the same time, cash payment and cash-on-delivery payment are still popular forms of transactions.
Vietnam is setting to make the rate of cash payment to be below 10% among all means of payment by 2020 and 8% by 2025, according to the countrys national plan on non-cash payment market development.
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