Friday, August 18, 2017 - 8:25:01

Nearly 63 million bank cards in use in Vietnam: SBV

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The number of bank cards in circulation nationwide reached 62.93 million at the end of the third quarter, rising 4.62 percent from the previous period, according to the State Bank of Vietnam.

Domestic cards reached 57.23 million, up 4.26 percent, and international cards hit 5.7 million, increasing 8.36 percent.

With the country's population at 90 million, the growing use of bank cards to pay for goods and services indicates their convenience is being recognised.
Latest data from the State Bank of Vietnam has shown that ATM card holders in Vietnam had 89.8 trillion VND (4.08 billion USD) in 42.7 million current accounts at the end of June.

By the end of the first quarter, the amount in ATM accounts was 99 trillion VND (4.5 billion USD), much higher than the 85 trillion VND (3.86 billion USD) for the same period last year.

According to the Vietnam Card Association, nearly 20 years after being introduced, millions of Vietnam's ATM cards are still used to withdraw cash at ATMs instead of performing non-cash transactions.

The central bank has taken measures to boost non-cash transactions, including a draft decree on limiting the use of cash for large transactions which is expected to be submitted to the Government for approval this year. It is also implementing a project on non-cash payments.-VNA

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