A daily trading limit for individual e-wallets would be set at 20 million VND (860 USD) and 100 million VND per month, according to a draft circular from the State Bank of Vietnam (SBV) recently made public for comment.
Vietnam Railway (VNR) and NextTech Group signed an agreement on April 23 in Hanoi to offer online booking and payment services for railway tickets through e-wallet VIMO.
Ho Chi Minh City will create favourable conditions for Thai-based Kasikorn Bank (KB Bank) to open its branch in the city, the first of its kind in Vietnam, helping diversify local credit and banking activities, Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen has said.
Payments of import-export taxes and fees to customs authorities must all be conducted via cashless payment methods or through credit institutions from the beginning of April, according to a requirement recently issued by the General Department of Vietnam Customs.
An entrenched cash using habit and safety concerns are the main reasons for people not to switch to non-cash payments, a workshop heard in Ho Chi Minh City on January 15.
Deputy Prime Minister Vuong Dinh Hue announced a draft resolution of the Government on key tasks and solutions to achieve socio-economic development goals and State budget estimate for 2019 during a conference on December 28.
The Vietnamese Government will continue to support and solidify legal regulations on cashless payment systems, Deputy Prime Minister Vuong Dinh Hue told Anthony Tan, CEO and co-founder of Grab – a ride-hailing platform in Southeast Asia which has been popular in Vietnam over the past five years.
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.
Deputy Prime Minister Vuong Dinh Hue had a dialogue with executives of 40 global corporations and five domestic enterprises in the framework of the WEF ASEAN 2018 in Hanoi.
The Vietnamese Government is supportive of Lotte group’s expansion into business fields of strength, including consumer finance, Deputy Prime Minister Vuong Dinh Hue assured Chairman and CEO of the Republic of Korea (RoK)’s Lotte Card Kim Chang-kwon during a reception in Hanoi on September 6.
The Government will continue to fine-tune legal regulations to popularise the payment of public services through banks, deputy governor of the State Bank of Vietnam (SBV) Nguyen Kim Anh said.
The State Bank of Vietnam (SBV) will continue managing monetary policy in an active, cautious and flexible manner and combine with other fiscal and macro-economic policies to control inflation, ensure credit institutions’ liquidity, stabilise monetary and foreign exchange markets.
Deputy Prime Minister Vuong Dinh Hue has asked relevant bodies to report a pilot plan on applying new payment services to Prime Minister before April this year.
The Vietnam Online Business Forum (VOBF) 2018, the second of its kind, opened in Hanoi on March 14 to the welcome of investors following the 2017 success.
Beginning March 3, 2018, persons who are between 15 and 18 years old can open debit cards, credit cards and prepaid cards without the need to provide proof of income’s sources, according to the State Bank of Vietnam.
The Hanoi People’s Committee recently issued a plan to develop non-cash payments, urging all supermarkets and restaurants to put in place cashless payment devices or systems by 2020.
Prime Minister Nguyen Xuan Phuc has approved a scheme to intensify payments for public services via banks, including tax, electricity, water, hospital and learning fees.
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