A two-day scheme entitled "Cashless Streets" began today (October 7) in the city's central Hoan Kiem District.

Agribank's Hung Vuong Branch joins the program and introduces its cashless payment service. Photo: The Hanoi Times

The program is one of Hanoi's key activities in response to the National Digital Transformation Day (October 10).

It encourages all Hanoi residents to make their purchases through cashless payments, enabling the city to accelerate its digital transformation and the growth of the digital economy.

Ten banks and cashless service brands participate in the program, including Vietcombank's Chuong Duong branch, Vietinbank's Trang An branch, Agribank's Hung Vuong branch, TPBank, Momo, ZaloPay, and Paytech.

The banks and online payment service providers will introduce their products and services to the people and guide locals through their cashless transactions.

Ha Minh Hai, the Deputy Chairman of the Hanoi People's Committee, said digital transformation, e-commerce and cashless payments are the way forward.

He said the program is an opportunity for the people of Hanoi to experience modern cashless services and contribute to the development of a digital economy.

"Cashless transactions will also increase transparency in the banking system, allow sellers to diversify their distribution network, build the consumer database, and improve people's quality of life," he said.

Harnessing the benefits of digital transformation will create and strengthen three foundations for modern development: digital government, digital economy and digital society, Hai said.

The program will offer banks and e-commerce companies the opportunity to popularize their cashless products and services, making them accessible to all consumers and shoppers.

Through the program, Hanoi aims to encourage residents and visitors to use online transactions more often, thus creating a modern, civilized and digital city.

After the program, Hoan Kiem District authorities will continue to strengthen communication on the benefits of cashless transactions.

The district expects to have "cashless streets" soon, where 100% of people and organizations doing business on local streets will make cashless transactions.

At the city level, Hanoi plans to have the program adopted and implemented in other districts, with the expectation that all districts will establish and expand cashless streets.