Deputy Governor of the State Bank of Vietnam Pham Tien Dung delivers a speech at the conference. (Photo courtesy of NAPAS) NAPAS General Director Nguyen Quang Minh unveiledthe information at a conference held in Hanoi on January 4.
“In 2022, NAPAS has completed the key tasksassigned by the State Bank of Vietnam and closely followed thenon-cash payment development plan for the 2021-2025 period. It has promoted itsrole as a supplier of the national payment infrastructure, financial switchingservices, supporting banks, financial companies, payment intermediaries andpartners to develop a digital payment ecosystem while increasing convenienceand payment experience for all people,” he said.
Minh also said the proportion of cash withdrawalsin total transactions processed through the NAPAS system decreased from 12% in2021 to 6.56% in 2022.
In terms of ensuring safe, stable and smoothoperating infrastructure in 2022, the service-level agreement (SLA) forATM/POS switching services; online card payment and NAPAS 247 Quick Transferservice reached nearly 100%.
NAPAS has always been ready in terms of systemsand resources and developed plans to ensure the safety of importantinformation systems. At the same time, it has expanded its processing capacityto meet the demand for large transaction volume growth during peak times of theyear.
The proportion of chip card transactions madethrough the NAPAS system increased from 26% in 2021 to more than 60% in 2022.
The total number of transactions and total valuethrough the NAPAS system rose by 96.5% and 87.3% from the figures last year,respectively.
The NAPAS 247 Quick Transfer service withVietQR code also had impressive growth after more than a year since launch.
NAPAS completed the project of interconnectingNAPAS 247 Quick Transfer service with Mobile Money accounts at VNPT andViettel; expanding the form of payment by VietQR code on the national publicservice portal with 17 banks. It has also implemented projects to strengtheninternational connections between card organisations and switching companies ofThailand, the Republic of Korea, Cambodia, and Russia.
In addition, NAPAS has expanded the paymentecosystem and increased convenience for users by promoting cooperation withbanks and financial companies participating in domestic credit card issuance aswell as Vinbus payment service to customers of 18 banks.
It has implemented many programmes to supportits members in 2022 such as completing the conversion of chip cards accordingto the basic standards of the central bank’s domestic chip cards.
NAPAS reduced fees for member organisationsunder the exemption and reduction of switching service programme of up to 1.7trillion VND (nearly 73 million USD).
Speaking at the conference, Deputy Governor ofState Bank of Vietnam Pham Tien Dung said the continued reduction in theproportion of cash withdrawal transactions compared to the total transactionsand the increase in the proportion of Vietnam Chip Card Standard(VCCS) – domestic chip card standards processed through the NAPAS system in2022 showed a development in NAPAS’ operation. This also showed that banksare also gradually shifting to VCCS chip cards.
In addition, promoting payment implementationfor seven public service groups on the National Public Service Portal andstrengthening international payment connections with some countries are also abright spot in NAPAS' activities in 2022, he added.
Nguyen Quang Hung, Chairman of the Board ofDirectors of NAPAS, said they would actively and closely coordinate with banks,payment intermediaries, domestic and international partners to build anddeveloping a multi-service digital payment ecosystem, contributing to promotingthe non-cash payment, comprehensive financial universalisation towards the goalof building a digital economy and digital nation./.
VNA
