Da Nang launches Market 4.0 model

The Da Nang Department of Industry and Trade in collaboration with the Military Industry-Telecommunications Group (Viettel Da Nang) held a launch ceremony of the Market 4.0 model in Da Nang, on April 8.

Da Nang launches Market 4.0 model
Da Nang launches Market 4.0 model

Piloted at Con market from November 2021, up to now, the model has been deployed to more than 1,000 small businesses in three big markets, including Con market, Han market and Dong Da market.

The new model aims to accelerate digital transformation and the use of non-cash payment methods in the city’s wet markets and provide more opportunities for residents to experience modern payment services.

With the Market 4.0 model, small businesses and customers can buy and sell goods at the market by scanning the VietQR code or transferring money via their phone number on the Viettel Money app.

Da Nang launches Market 4.0 model ảnh 1

People scan QR codes to pay at market stalls.

Viettel Da Nang has also built deposit/withdrawal points throughout the market, equipped with VietQR codes for small businesses and connected with 37 banks and e-wallets, to create Viettel Money accounts to support small businesses and customers making transactions of transferring, depositing, withdrawing money or buying and selling online.

As payments now only require scanning of the QR code, with no cash nor changes involved, they have become very fast and convenient, said Phuc Thi Hien Quyen, who runs a stall selling “gio” and “cha” (Vietnamese pork sausages) at Con Market. "Using this QR scan, I can also control my money.", she said.

Da Nang launches Market 4.0 model ảnh 2

The payment is more convenient between the seller and the buyer.

The model will be scaled up at other wet markets citywide as a way to promote cashless payments and prevent the spread of COVID-19.

The vendors will also receive help to promote their products on e-commerce sites while Viettel will open a post office at wet markets to support goods’ shipments and delivery.