Illustrative image (Source: Vietcombank)Hanoi (VNA) – Prime Minister Nguyen Xuan Phuc has approved a scheme tointensify payments for public services via banks, including tax, electricity,water, hospital and learning fees.
Specifically, by 2020 80 percent of taxpayment transactions in central-level and provincial-level cities are hoped tobe implemented via banks, while all State treasuries will have cashless paymentdevices.
The scheme also targets non-cash payments beingaccepted by 70 percent of power companies, 70 percent of water companies, 100percent of universities and colleges and 50 percent of hospitals in majorcities.
The country will focus on developing new andmodern payment methods, especially those suitable for rural areas, and forpeople who don’t have bank accounts.
The country will also develop newmulti-functional and multi-purpose bank cards that allow different forms ofpayments such as internet banking, non-touch and near-field communicationpayments.
More efforts will be made to ensure securityand safety during transactions to gain consumer confidence, while authenticitymeasures will be intensified to avoid fraud.
According to the State Bank of Vietnam’sPayment Department, non-cash payment is becoming a trend in Vietnam as the useof cash is falling. Cash payment has reduced from 14 percent in 2010 to 12percent now, it reported.
The department reported that 96.2 millioncards have been issued nationwide, up 210 percent from early 2011.
There are some 60 organisations providinginternet banking payment services and 30 organisations providing mobile bankingpayment services.
The payment infrastructure has also beenimproved, as evidenced by the rapid increase of ATMs and points-of-sale, by 47percent and 300 percent, respectively. – VNA
VNA
