Ho Chi Minh City hosts cashless festival

The Cashless Town festival, Vietnam’s first cash-free fest, will open later this afternoon in Ho Chi Minh, coinciding with Cashless Day – an annual event that encourages digital payments. 

Cashless Town is among a series of events being held within the framework of the annual Cashless Day – an initiative launched by Tuoi Tre (Youth) newspaper in 2019 to promote digital payments and contribute to Vietnam’s transformation as a cash-free society. 

The festival is scheduled to last from Friday through Sunday on Le Loi Boulevard in District 1, Ho Chi Minh City.

Booths at Cashless Town will focus on financial services, public services, dining, sightseeing, and entertainment, all of which can be paid for by guests via cards, bank transfer, mobile apps, or one-touch payment.

Aside from shopping for famous brands and enjoying unique eats, visitors to Cashless Town can enjoy karaoke, gift exchanges, and art.

Banks and credit card institutions will also be onsite to market deals for cash-free payment solutions.

At the center of the town, opposite the main stage, an area has been set up to introduce new cash-free payment technologies from banks, e-wallet developers, and fintech startups.

Kazuma Shukuin, chief representative of Japan Credit Bureau (JCB) in Vietnam, told Tuoi Tre that JCB had set up a small Japanese corner for customers at the festival to mark the 50th anniversary of diplomatic relations between Vietnam and Japan.

JCB not only focuses on promoting its credit card services, but also hopes to highlight Japanese culture by giving guests the opportunity to try on dozens of traditional Japanese Yukata costumes at the event.

Visitors to JCB’s booths will also have the opportunity to check out Japan's national flower tree – the cherry blossom tree – and receive lovely Japanese gifts such as Maneki Neko (lucky cat), JCB keychains, and more.

Binh Tay Food Joint Stock Company will also have a booth at the festival where it will display various food products.

In fact, the booth is so popular that on Thursday, even before the festival's opening, customers were already buying fruits, such as rambutans, and paying digitally.

The food at the festival has been a big hit. 

One group of office workers, for example, visited the festival to try a fish and noodle dish from Soc Trang Province and exclaimed that it was absolutely delicious. After eating, a member of the groupn, Nguyen Thu Thuy, simply whipped out her phone and paid with a QR code.

Many non-cash payment service providers are using the festival as a platform to promote new products. 

The National Payment Corporation of Vietnam (NAPAS) said it has prepared about 3,000 water bottles, teddy bears, hats, and T-shirts for guests.

Similarly, customers who open accounts, make online savings, or participate in games at a booth run by Saigon - Hanoi Commercial Joint Stock Bank (SHB) will be offered piggy banks, mini hand-held fans, raincoats, umbrellas, T-shirts, and suitcases. 

MoMo e-wallet will offer gifts to customers through its Lucky Spinning Wheel program. The e-wallet provider will have coffee on sale for VND1,000 (US$0.04) which customers can purchase using the app.

Revenue from the coffee sales will be used to build a library.

In addition to all the great deals being offered at the booths, guests who check in at Cashless Town will have the opportunity to win prizes worth up to VND1 million ($43) each.

Aside from Cashless Town, other events held within the framework of Cashless Day include a Cashless Warriors contest, which will last until July 15 and will have results announced on July 21. 

Another event is the 'Data Connection, Smart Payment to Promote Social Development' national conference scheduled to host 400 guests on June 16 at the Rex Hotel in District 1.

Lastly, the Big Boom promotional program slated for June 16 will allow consumers to purchase goods with incentives from sellers and intermediary payment service providers, as well as take part in other attractive activities offered by banks, card issuers, e-wallet companies, and retailers.

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