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Virtual banking data from Visa somewhat questionable

Doanh Nhan Online is carrying an article about a Visa report from May this year (found here) in which 90 percent of Vietnamese consumers express an interest in virtual banking services.

Something to think about: The report also mentions that 76 percent of consumers in Vietnam had gone cashless for an average of 13.7 days. For context, Vietnam is well known for its street trade which is all done in cash and it would be very difficult to go one day without using cash let alone two weeks. Couple that with the World Bank’s The Global Findex Database 2021 which found that only 56 percent of Vietnamese over the age of 15 had a bank account and the Visa data seems somewhat questionable.

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