Illustrative image (Photo: VietnamPlus)Hanoi (VNA) – Cashlesspayments continued to grow fast in the first nine months of 2021 to top 36.28quadrillion VND (1.6 billion USD), according to a recent report by the Government.
During the period, 435.25million transactions worth 22.78 quadrillion VND were made via the internet, up54.1 percent in volume and 30.7 percent in value. More than 1.19 billion othersworth over 13.5 quadrillion VND were conducted via mobile phone, surging 74.98percent in volume and 93.69 percent in value.
The Government said cashlesspayments for public services have improved considerably in terms of bothquantity and quality.
Businesses nationwide havemade more than 90 percent of their tax payments via bank transfer. A largenumber of people have also used this method to pay power bills and medicalexamination and treatment fees or receive pensions and allowances.
However, payment frauds havealso become increasingly complicated across the country, the report pointedout.
Speaking at a discussion lastweek, Dao Minh Tuan, head of the card division of the Vietnam BanksAssociation, said though credit institutions have continually updated securitytechnology, payment scams remains sophisticated.
Representatives of banks heldthat coordination among relevant parties is needed to ensure payment securityand safety./.
