The banking industry's credit is projected to have expanded 11% for the year by the end of December, Deputy Governor of the State Bank of Vietnam (SBV) Dao Minh Tu revealed at a press conference on December 24.

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has recently been honoured at four categories of the multinational financial services corporation Visa Inc.

The novel coronavirus outbreak has changed the payment habit in Vietnam, with non-cash transactions particularly surging in the public service, Director of the State Bank of Vietnam’s Payment Department Pham Tien Dung said on December 4.

For its almost 100 percent success rate in straight-through processing, the Ho Chi Minh City Development Joint Stock Commercial Bank has received the MT202 and MT103 STP awards for international payment services from J.P. Morgan Chase Bank.

Visa and NextTech Group on November 4 signed a three-year partnership to promote the adoption of digital payments among small business owners in Vietnam’s rapidly growing social commerce sector.

The State Bank of Vietnam is drafting a circular regarding cashless payments which might allow domestic commercial banks and domestic intermediary payment companies to co-operate with foreign intermediary payment companies to provide international payment services.

“Vietnam Card Day 2020”, the first of its kind, was officially launched on in Hanoi on October 29 with an aim to promote non-cash payments in the country.

Businesses following the sharing economy model are facing problems in tax declaration. Because of the lack of regulations, the taxation body may be taxing inaccurately or missing taxpayers.

The National Assembly’s Finance and Budget Committee has agreed not to adjust the minimum wage in 2021 and has warned about the pressure on public debt payment.

In the wake of new advances in science and technology that pose challenges to security and confidentiality, the State Bank of Vietnam (SBV) is drafting amendments to Circular 47/2014/TT-NHNN with new technical regulations on security and confidentiality for the card payment system.