The Hanoi Department of Industry and Trade on August 30 announced a list of online points of sale and units providing the servies on its portal http://congthuong.hanoi.gov.vn
The National Payment Corporation of Vietnam (NAPAS) has announced a fee reduction for its local switching system services with an aim to encourage banks replacing their current magnetic strip ATM cards with chip cards ahead of schedule.
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.
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.
The total value of transactions via the automatic teller machines (ATMs) and points of sale (POS) last year surged sharply by 34 percent against the previous year.
ZaloPay e-wallet, developed by VNG Corportion, aims to open about 1,000 new points of sale in 2018, according to Phan Thanh Thao, business development director of Zalo Pay.
Credit card holders will not be allowed to withdraw cash at card readers of domestic points of sale (POS) from March this year, said the State Bank of Vietnam (SBV).
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