TPBank, UnionPay launch payment service Business

TPBank, UnionPay launch payment service

The Tien Phong Commercial Joint Stock Bank (TPBank) and UnionPay International (UPI) signed a cooperation agreement on inter-bank payment in Vietnam, at a ceremony in Hanoi on July 15.
Central bank issues roadmap for ATM card upgrades Business

Central bank issues roadmap for ATM card upgrades

Under a new regulation, commercial banks will have to switch 30 percent of their current magnetic strip ATM cards – more than 25 million in total – to chip cards by the end of this year to enhance safety and service quality.
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.
SBV to continue flexibly managing monetary, fiscal policies Business

SBV to continue flexibly managing monetary, fiscal policies

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.
Hanoi to develop non-cash payments Business

Hanoi to develop non-cash payments

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.
Cash still trumps online payment Business

Cash still trumps online payment

Electronic payments for online transactions remained modest compared with cash-on-delivery payments, according to a recent report of the Ministry of Industry and Trade on e-commerce in Vietnam.

In spite of this, the e-commerce payment system is an important base for the development of e-commerce, which has great potential in Vietnam.
Vietnam boosts card-based payments Business

Vietnam boosts card-based payments

Non-cash payments are becoming more widespread in Vietnam, the Vietnam Economic News reported, adding that the trend can be seen through the growing number of card users, automated teller machines (ATMs) and points of sale (POS).