As Vietnam embraces cashless payments, cybersecurity risks emerge

Increasing cashless payments require the need for better cybersecurity. — Photo courtesy of Kaspersky.

HCM CITY (Vietnam News/ANN: Vietnam is marching towards becoming a cashless society with new methods of electronic payments being deployed widely, but security risks come hand in hand with new technologies and applications.

A study by Visa found a surge in the use of mobile wallets and payment apps in the country in recent years, with over 85 per cent of consumers having at least one of them and over 42 per cent using mobile contactless payments.