At the Vietnam Card Day 2025 event held on October 7 in Hanoi under the direction of the State Bank of Vietnam (SBV), Tien Phong Newspaper and the National Payment Corporation of Vietnam (NAPAS) co-hosted a seminar themed One Touch, Millions of Trusts – Shaping the Future of Digital Payments. The discussion highlighted the critical role of digital payments in realising Vietnam’s digital economy vision.

Editor-in-Chief of Tien Phong Newspaper Phung Cong Suong said digital payments have become the bridge connecting people, businesses and government on a modern technological platform.

“Digital payment development is the cornerstone for building a cashless society and an inclusive financial system. Technologies such as artificial intelligence, big data and biometrics are improving convenience and security but also bring new challenges in risk management and data protection,” he said.

According to Deputy Head of Digital Channels at Vietcombank Tran Van Thanh, digital technology has become a key engine for Vietnam’s economic growth.

“In 2024, cashless transactions in Vietnam reached VND295.2 quadrillion, equivalent to 26 times GDP. In the first quarter of 2025 alone, QR code payments increased by over 81 per cent,” he said, adding that the growing number of digital users and the adoption of e-wallets and mobile banking services are transforming payment behaviours nationwide.

From an economic policy perspective, Nguyen Xuan Thanh, Lecturer at Fulbright University Vietnam, said finance has always been among the fastest sectors to adopt new technologies.

“Artificial intelligence (AI) is revolutionising financial services by enhancing efficiency, automation and fraud detection,” he said. However, he warned that AI also presents risks related to data use, algorithmic bias and cybersecurity. “Digital transformation is not just about technology. It is about people, leadership and a culture that embraces change.”

According to Director of the Payment Department under the SBV Pham Anh Tuan, a robust legal framework remains essential for ensuring safe, inclusive and innovative digital payment development.

“Digital transformation can only go far if the regulatory foundation keeps pace with innovation,” he said.

Tuan noted that new laws on electronic transactions, data protection and credit institutions have established key conditions for expanding e-payments, e-KYC and open banking, while draft decrees on non-cash payments and the fintech sandbox mechanism will encourage more experimentation and partnerships between banks and fintechs.

From the market infrastructure side, NAPAS Deputy CEO Nguyen Hoang Long shared that NAPAS currently processes around 35–36 million transactions per day, connecting payment services to nearly one-third of Vietnam’s population.

“We are expanding cross-border QR code payments to support trade and tourism. After connecting with China, we plan to extend QR interoperability to markets such as Japan, the Republic of Korea and Singapore,” he said.

Long added that ensuring system security and payment reliability remains the company’s top priority as transaction volumes continue to grow rapidly.

Speakers agreed that Vietnam’s progress in digital payments reflects both technological innovation and public trust. As the country advances toward a cashless society, ensuring safety, privacy and transparency will be key to sustaining confidence among consumers and investors alike.

Editor-in-Chief Suong concluded: “Digital payments represent more than convenience. Each transaction, each ‘one touch,’ reflects millions of trust — the foundation for Vietnam’s digital economy in the years ahead.”

Vietnam Card Day 2025 launched under theme ‘One Touch – Million Trusts’

The organising committee of Vietnam Card Day 2025 on September 26 announced the launch of this year’s event under the theme 'One Touch – Million Trusts', highlighting the country’s progress in digital payments and the banking sector’s commitment to building public confidence in cashless transactions.