Banks issued nearly 12 million bank cards last year, raising the total number of cards issued in the country to 66.2 million.
This was an increase of 22 percent over 2012, according to the latest data from the State Bank of Vietnam.
Ofthe total, the domestic cards accounted for 59.87 million, up 19.1percent, and the number of international cards increased by 57.3 percentto reach 6.34 million.
In the last quarter alone, 3.28 million cards were issued of which 2.64 million were domestic cards.
Thecentral bank said that credit cards were finding favour with theVietnamese people, adding that their number doubled last year to 2.43million.
Debit cards were up 10.22 percent to reach 61.11 million, while the number of prepaid cards doubled to reach 2.67 million.
The country has more than 14,400 ATMs and over 111,000 points of sale.
However, millions of bank accounts are mainly used to withdraw cash rather than make payments via cards and banking facilities.
This is due to the fact that most businesses do not encourage the use of cards for payment.
Inmany supermarkets and shopping centres, customers who use cards forpayment are not entitled to discounts and other sales promotions. Sothey often withdraw cash from ATMs before a trip to the market.
Toaccelerate non-cash payments, experts emphasised the important role ofthe relevant ministries and agencies. For example, the Ministry ofIndustry and Trade has stated that all shopping centres and restaurantsshould have the facility to accept payment via bank cards, and theMinistry of Finance should issue a tax reduction policy to encouragetheir use.
The central bank is also drafting a decree under whichindividuals will not be allowed to pay in cash for securities, houses,land and vehicles including cars and motorcycles.
Organisationswill not be permitted to use cash for transactions involving the realestate, securities, aircraft, ships or cars, regardless of the value.There will also be a limit on the amount that individuals andorganisations can be paid in cash.-VNA
This was an increase of 22 percent over 2012, according to the latest data from the State Bank of Vietnam.
Ofthe total, the domestic cards accounted for 59.87 million, up 19.1percent, and the number of international cards increased by 57.3 percentto reach 6.34 million.
In the last quarter alone, 3.28 million cards were issued of which 2.64 million were domestic cards.
Thecentral bank said that credit cards were finding favour with theVietnamese people, adding that their number doubled last year to 2.43million.
Debit cards were up 10.22 percent to reach 61.11 million, while the number of prepaid cards doubled to reach 2.67 million.
The country has more than 14,400 ATMs and over 111,000 points of sale.
However, millions of bank accounts are mainly used to withdraw cash rather than make payments via cards and banking facilities.
This is due to the fact that most businesses do not encourage the use of cards for payment.
Inmany supermarkets and shopping centres, customers who use cards forpayment are not entitled to discounts and other sales promotions. Sothey often withdraw cash from ATMs before a trip to the market.
Toaccelerate non-cash payments, experts emphasised the important role ofthe relevant ministries and agencies. For example, the Ministry ofIndustry and Trade has stated that all shopping centres and restaurantsshould have the facility to accept payment via bank cards, and theMinistry of Finance should issue a tax reduction policy to encouragetheir use.
The central bank is also drafting a decree under whichindividuals will not be allowed to pay in cash for securities, houses,land and vehicles including cars and motorcycles.
Organisationswill not be permitted to use cash for transactions involving the realestate, securities, aircraft, ships or cars, regardless of the value.There will also be a limit on the amount that individuals andorganisations can be paid in cash.-VNA
