Prime Minister Nguyen Xuan Phuc has underlined the need to accelerate the building of a digital government, digital administration and smart urban system, affirming that the application of new technologies will contribute to speeding up policy response and promptly detecting shortcomings in law enforcement.
Vietnam’s cyber security is being compromised, posing new challenges in ensuring information safety, especially in the finance-banking sector, State agencies and organisations, experts warned at a recent conference.
A lack of cooperation between banks, service providers and customers is the major issue preventing the widespread use of cashless payments in Vietnam, Nguyen Dinh Thang, Chairman of LienVietPostBank’s Board of Directors, said at the Banking Vietnam 2019 event in Hanoi on May 30.
Transaction limits for e-wallets should be set at appropriate levels to encourage cashless payment amidst an anticipated boom of e-commerce in Vietnam, experts have said.
Transaction limits for e-wallets should be set at appropriate levels to encourage cashless payment amidst an anticipated boom of e-commerce in Vietnam, experts have said.
The growth of the number of people making mobile payments in stores in Vietnam is at the fastest, according to the Global Consumer Insights Survey 2019 by PwC.
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.
Telecommunications firms are ready to pilot a mobile money service thanks to their modern technology infrastructure, customers, wide transaction point networks and financial resources.
The Government had agreed to pilot the use of telecommunication accounts to pay for goods and services with small value. This is not only a chance but also a challenge when unexpected things happen.
The south central province of Ninh Thuan is expected to welcome 2.35 million visitors in 2019 and earn 1.15 trillion VND (49.95 million USD) from tourism.
The Government has issued measures to boost non-cash payment methods in the country this year.
Foreign investors cannot take their eyes off the Vietnamese real estate market, one of the most dynamic emerging markets globally, according to an article by regional managing director, Southeast Asia, CBRE Vikram Kohli on www.bussinesstimes.com.sg.
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.
Foreign investors have poured into Vietnam’s e-wallet sector as they see huge growth potential in the market in the wake of the Government’s plan to reduce cash payments to below 10 percent of the total payment transaction by 2020.
PricewaterhouseCoopers (PwC) predicts that the financial services sector in ASEAN will outpace that of more mature markets, according to the ASEAN Post.
The south central coastal province of Ninh Thuan is calling for investment in infrastructure and restoration and upgrade of cultural historic relic sites in a move to sustainably develop cultural tourism.
Digital banking will be the future of the Vietnamese banking system, especially amid the development of the fourth industrial revolution, according to experts.
