Central bank demands stronger promotion of cashless payment

The State Bank of Vietnam has requested banks, branches of foreign banks, and providers of intermediary payment services to take steps to continue promoting cashless payment and the implementation of the national digital transformation programme.

The move is set to help with the plan on developing the application of resident data and electronic identification and authentication to serve national digital transformation for the 2022 - 2025 period, with a vision to 2030.

The banks and branches of foreign banks were told to actively carry out practical activities in response to the Cashless Day 2023 (June 16) and throughout June.

Besides, the central bank recommended banks and branches of foreign banks in Vietnam coordinate with payment acceptance units such as power, water and telecoms service suppliers… to hold promotion events and advertise their services to encourage cashless payment./.

VNA