Lac Tanh Market: QR Code Revolution in Shopping Experience!

Lac Tanh Market: QR Code Revolution in Shopping Experience!

Shopping is becoming easier and more modern in the colorful market atmosphere of Lac Tanh Market in Lam Dong. Ms. Ho Thi My Phuc is one of the market traders offering fresh pork to her customers. Cashless payment via QR code is becoming increasingly popular. “It makes business easier!” says the saleswoman as she shows a QR code that customers can simply scan with their smartphone. This convenient payment method was introduced in 2024 and almost 100% of merchants now use it. This not only has advantages for customers, but also for the sellers themselves, because it reduces the risk of losing cash and brings more security to the market.

The Lac Tanh Market, which is bustling from 5 a.m. to 11 a.m. daily, offers everything from fresh vegetables from Da Lat to local meats and fish from Phan Thiet and La Gi. For example, there are 5 bunches of water spinach as well as chili and onions, which only cost VND 5,000 each. A kilogram of pork belly can be purchased for 150,000 VND, while minced meat can be had for a reasonable 20,000 VND.

Cashless payments are trending

The digital transformation, which is also being driven forward in rural areas and among ethnic minorities, shows that cashless payments are not only a technical development, but also represent a significant step towards a modern economy. The introduction of QR codes at Lac Tanh Market is seen as contributing to the prevention of illicit loans and thus promoting the digital economy. The State Bank Region 10 has also invested in modern technologies to offer digital banking products.

A look across borders shows that cashless payments are already part of everyday life in many European countries. Germany, on the other hand, is currently lagging behind. In coalition negotiations, the Union and the SPD agreed that at least one cashless payment option should be available in shops. This development is expected to not only improve the convenience of customers but also help the government combat tax fraud through electronic invoicing. As the Tagesschau reports, with entrepreneurial measures such as the obligation to use cash registers, an estimated 10 to 15 billion euros in sales and profit taxes could be recovered annually.

A look at Scandinavia

While Germany is still discussing, Scandinavian countries like Sweden have already recognized the signs of the times. Sweden is leading the global effort to eliminate cash and has become the first country ever to announce its intention to do so. QR codes are not uncommon here; In Sweden, even homeless people can receive support via the “Swish” app with a QR code. In the DACH region, emotional debates about cash and digital payment methods are widespread, but the trend is clearly pointing towards cashless payments.

As we can see, the Lac Tanh market not only shows that shopping is being modernized, but also that the discussion about cashless payment methods in Germany urgently needs to be held. Where the Lac Tanh market shines as a pilot project, a major economic shift could soon take place across the region.