Pham Anh Tuan, director of the Payment Department under the State Bank of Vietnam, speaks at the press conference to announce the 2023 Cashless Day in HCM City on May 26. (Photo courtesy of the organisers) They include a "Cashless Day" national seminar on June 16 that willdiscuss enhancing data connectivity to promote smart payments, security issuesin payment activities and payment technology, and a competition entitled “Chienthan khong tien mat” (Great warrior of cashless payment) from June 16 to July15.
The highlight of Cashless Day this year is Cashless Town Festival from June 16to 18 in Ho Chi Minh City. The festival is organised according to a miniaturecashless society model, in which visitors shop and enjoy dining andentertainment activities without using cash, experience online public services’utilities and visit an exhibition on History of Money.
Themed "Data Connection, Smart Payment", the programme this year alsoincludes a concentrated promotion programme, “Big Boom”, with numerous specialpromotions to be offered to shoppers by merchants, payment intermediaries, cardorganisations, e-wallets, and retailers.
Speaking at a press conference to announce the 2023 Cashless Day in HCM City onMay 26, Pham Anh Tuan, director of the Payment Department under the State Bankof Vietnam, said the Cashless Day programme jointly organised by his departmentand Tuoi Tre newspaper for the last four years has conveyed a positive messageto encourage cashless payments.
Non-cash payments are on the rise, especially mobile and QR code payments, hesaid.
In the first quarter, interbank electronic payment transactions rose by 8.6%year-on-year in terms of value. Transactions through the financial switchingand electronic clearing system increased by 70.8% in volume and 18.6% in value,he said.
Notably, there is a strong shift from cash withdrawal to cashless payment. Thenumber of transactions via POS increased by 37.6% in volume and 32.1% in value,while cash withdrawals at ATM continued to decrease by 2.37% in quantity anddecrease by 4.02% in value, he said.
After more than a year of implementing mobile-money service, up to now, 3.71million mobile money accounts have been opened, of which 30% are opened inremote areas and islands, he said.
In addition, banks and intermediary payment services providers have rolled outnew, modern, and cost-effective payment solutions such as QR code payment andcontactless payment to improve customer experience and encourage residents andbusinesses to adopt cashless payment, he said.
Technical infrastructure and cashless payment technology have improvedsignificantly, meeting the increasing needs of the whole society.
The central bank will continue to complete the legal framework to furtherfacilitate non-cash payment, he said./.
VNA
