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Thailand, Japan and Vietnam lag in Asia's digital payments rush

Cash remains vital in many nations despite declining usage across region: report

A Beijing meat stall accepts cashless payments through the use of QR codes. China was the least cash-dependent country in Asia in 2022.   © Reuters

SINGAPORE -- Thailand, Japan and Vietnam were the top three Asian countries lagging in the adoption of cashless payments, even as the region overall leads in the global push toward digital pay, an industry report released on Wednesday showed.

Among the region's in-person transaction value in 2022, the share of cash in Thailand was the highest at 56%, followed by Japan at 51% and Vietnam at 47%, according to U.S.-based banking and payment processing company FIS.

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