Non-cash payment has been developing sharply in Vietnam recently, and building a digital payment ecosystem is becoming essential to accommodate further growth.
A typical characteristic of the 4.0 industry revolution is the faster diffusion and larger coverage of new technologies, as well as the higher speed in realizing innovative ideas.
Money collection services have brought big money to commercial banks.
The Government has issued measures to boost non-cash payment methods in the country this year.
Vietnam’s central bank says the value of cashless transactions more than doubled over the first three quarters of 2018.
The ride-hailing application FastGo will debut in Ho Chi Minh City this month, giving another choice of travel and payment methods for customers of the city.
With the Government encouraging non-cash payments, e-banking service is promising in Vietnam, experts said at the Vietnam Retail Banking Forum 2016 in Hanoi on December 1.
Non-cash payment has gradually become a trend in Vietnam as cash-used expense saw a remarkable reduction, according to the State Bank of Vietnam’s Payment Department.
(VOV) -Vietnam’s e-commerce market is expected to earn US$1.3 billion in revenue by 2015, announced the Vietnam E-commerce and Information Technology Agency (VECITA).
Vietnamese and foreign bankers are gathering in Hanoi on May 23-24 to discuss technology transformation towards effective banking governance and high quality services for the banking sector.
About 20 percent of the population in Vietnam use banking services, with non-cash payments accounting for 14 percent of the total payments made, said Bui Quang Tien, Director of the Payment Department under the State Bank of Vietnam (SBV).