Vietnam’s E-commerce and Information Technology Agency (VECITA) predicts the nation’s e-commerce market will grow to US$1.3 billion by 2015.

VECITA found out that of the US$700 million sales generated in 2012, only 11.8 per cent were made via non-cash payment. This factor is an important premise for the development of electronic payment service in Vietnam’s e-commerce market which is still dominated by cash-on-delivery.

Vietnam’s e-commerce sales are still small compared to its Asian peers like Indonesia, whose e-commerce sales stood at US$1 billion in 2012. And B2C e-commerce spending in China reached US$107.4 billion last year.