Cashless payments account for over 70 percent of retail transactions in 2021 The COVID-19 pandemic, with its complicated developments, has given a boost to e-commerce, with non-cash payments accounting for 70 percent of total retail transactions in Vietnam last year. According to a survey of 15,000 retailers by tech firm Sapo, cashless payments in 2021 made up 72.8 percent of total transactions, up 9 percent year-on-year. Payments through bank accounts became the most popular method, accounting for 36.5 percent of total transactions at retail shops, restaurants and cafés followed by cash (29.8 percent), e-wallets (14.8 percent), QR code (9.9 percent), bank cards (8.5 percent) and payment gateways (0.5 percent). Notably, 89.3 percent of retailers have positive assessments on non-cash payments, considering them a trend at present and in future. New cashless payment tools are expected to be launched in the time to come to reduce difficulties currently facing some retailers. Reference exchange rate down 14 VND on January 14 The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,082 VND/USD, down 14 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day…