Tuesday, November 20, 2018 - 7:11:13

cash payment

SBV Governor: non-cash payment booming

Business

SBV Governor: non-cash payment booming

The number of transactions using new modes of payment has seen strong surges this year, Governor of the State Bank of Vietnam Le Minh Hung reported to the National Assembly during the Question-and-Answer session on November 1.

Cashless payment needs a boost in rural areas

Business

Cashless payment needs a boost in rural areas

Vietnam is entering the Fourth Industrial Revolution with the participation of all sectors, including the banking system; however, non-cash payment has seen development stall as the country’s population has not yet embraced its benefits.

Substantial reforms needed to adapt to Industry 4.0

Business

Substantial reforms needed to adapt to Industry 4.0

With the Fourth Industrial Revolution (Industry 4.0) in full swing, many countries – including Vietnam – are in the midst of a new technological wave that not only creates opportunities, but also brings challenges to the local government, businesses, and consumers.

Vietnam strives to reduce cash payment proportion

Business

Vietnam strives to reduce cash payment proportion

The Vietnamese Government plans to reduce the cash payment proportion to less than 10 percent by 2020 and 8 percent by 2025, which can be done by expanding the network of automatic teller machines (ATMs) and points of sale (POS) nationwide.

Experts: Non-cash payments need support

Business

Experts: Non-cash payments need support

The Government should create an ecosystem and suitable environment for new products and services as well as pioneer their use to promote the development of contactless payment methods. This could be a foundation for building e-government in Vietnam.