Hanoi (VNA) – Deputy Prime Minister Vuong DinhHue hailed the Republic of Korea as a cashless payment model that Vietnam wantsto follow during a reception in Hanoi on September 19 for Director of the RoK’sAlliex Technology Company Park Byounggun.
Hue said Vietnam is embarking on the cashless paymentproject, with a focus on standardising payment via QR codes and improvinginfrastructure for common points of sale (POS).
According to him, the Vietnamese government has issuedregulations on electronic bills, payment via cards and is striving to enableonline payment for public services.
The Deputy PM said the government has directed the pilotapplication of new technologies in the field and wished that Alliex would workclosely with the State Bank of Vietnam to develop a cashless ecological systemin the country.
Park informed his host that during his visit, Alliex signeda contract with Vietnam’s Vietinbank and Sacombank to build infrastructure for commonPOS, contributing to realising the country’s cashless payment policy.
During the first Vietnam – RoK dialogue on economiccooperation at the deputy prime ministerial level in June, Alliex expressed itsinterest in investing in common POS in Vietnam to help with the development ofthe sharing and cashless economy.
The company said it intends to pour 700 million USD inVietnam in the next five years to develop common POS, or nearly 600,000 cardpayment equipment for the market./.
Cashless payment remains low in Vietnam: CIEM
The ratio of cashless payments in Vietnam remains low, standing at only 11.49 percent of total means of payment, according to a recent report from the Central Institute for Economic Management (CIEM).