Business

Workshop talks promoting cashless payment

Policies and reality in building a cashless society in Vietnam was the theme of a workshop held in Ho Chi Minh City on June 11 by the State Bank of Vietnam (SBV) in coordination with the Ministry of Information and Communication and Tuoi Tre (Youth) newspaper.
Workshop talks promoting cashless payment ảnh 1At the workshop (Photo: VNA)

HCM City (VNA) –Policies and reality in building a cashless society in Vietnam was the theme ofa workshop held in Ho Chi Minh City on June 11 by the State Bank of Vietnam(SBV) in coordination with the Ministry of Information and Communication andTuoi Tre (Youth) newspaper.

Addressing the event, DeputyPrime Minister Vuong Dinh Hue stressed that the Government has paid attentionto promoting cashless payment as a way to support the building of ane-government and provision of online public services.

Citing statistics of the SBV,the Deputy PM noted that Vietnam’s mobile payment market saw an expansion of 160percent in 2018, the highest growth rate in the region. He said the impetusshould be maintained and accelerated to narrow the gap between Vietnam and othercountries in the region in this field, and also to assist with the development ofother services.

Deputy PM Hue asked the SBV towork with the Ministry of Information and Communication and other ministriesand agencies to review and refine the legal corridor for payment activities,laying the foundation for the building and implementation of new professionalprocedures and business models.

The banking sector shouldcontinue to effectively carry out of the project on developing cashless paymentin 2016-2020 and the scheme on popularizing payment through banks for publicservices such as public utilities, school tuition fee and social welfare.

SBV Deputy Governor Nguyen KimAnh said the SBV will revise and supplement the legal corridor for bankingactivities in general and payment activities in particular so as to meetrequirements for information technology-based business models and new productsand services, with a focus on digital banks and digital payment.

In 2019 alone, the SBV willbuild a decree to replace the Government’s Decree 101/2012/ND-CP on non-cashpayment.

With the Government’s drasticmeasures, cashless payment has made remarkable progress in 2018. According to statisticsof the SBV, the inter-bank electronic payment system handled about 13 billionUSD of transactions each day, up 25 percent from 2017 and the value of mobilepayment increased by 169.5 percent.

A survey of 27 countries by PwC,one of the world leading accounting firms showed Vietnam’s mobile payment markethad the fastest growth rate in 2018, with the rate of consumers using mobilepayment rising from 37 percent to 61 percent.-VNA 
VNA
#policies #reality #cashless society #workshop #State Bank of Vietnam #Ministry of Information and Communication #Tuou Tre newspaper #Deputy Prime Minister Vuong Dinh Hue #cashless payment #online public services #Vietnamplus #Vietnam News Agency Ho Chi Minh City
Follow VietnamPlus

Related News

Banking event highlights financial inclusion in Vietnam

Banking event highlights financial inclusion in Vietnam

The topic on how to apply digital technologies to promote financial inclusion in Vietnam will be discussed at the Banking Vietnam Conference and Expo 2019 (Banking Vietnam), which will take place in Hanoi on May 30.
Vietnam looks to develop cashless payment

Vietnam looks to develop cashless payment

The State Bank of Vietnam (SBV) is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.
Lack of cooperation prevents spread of non-cash payments

Lack of cooperation prevents spread of non-cash payments

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.

See more

The VSS reported that total accumulated reserves across the social, health, and unemployment insurance funds now top 1.5 quadrillion VND. (Illustrative photo: VNA)

VSS pledges tighter fund management, diversified investments

The VSS will also impose stricter financial discipline in fund management, while pursuing broader diversification of investment portfolios, as guided by the principle of “safety, sustainability, and efficiency”. This approach aims to secure strong liquidity for prompt benefit payouts and support growth in Vietnam’s capital markets and overall economy.

The ceremony unveiling AFT Connect portal (Photo: nhandan.vn)

AFT Connect portal links Vietnamese clean food producers

The platform is expected to serve as shared digital backbone enabling stakeholders in the clean food sector to gradually digitise, standardise, and publicly disclose information, ultimately aiding the fight against unsafe products and protecting consumer interests.

A Vietcombank employee guides a client in biometric process (Photo: qdnd.vn)

Vietnam's biometric surge powers digital banking overhaul

As the Party identified breakthroughs in science – technology and innovation as a key driver of national progress, the mastery and adoption of biometric technologies must go hand in hand with safeguarding public trust, data security, and citizens’ interests, all aligned with the people-first philosophy guiding the country's digital agenda.

A spring fair kicks off in the central Da Nang city on January 22, 2026 (Photo: VNA)

Da Nang 2026 spring fair features 200 booths

The fair features a diverse range of products and services, focusing on items for Tet such as food and beverages, regional specialties, OCOP products, and rural and industrial goods; fashion, footwear, cosmetics, and sports equipment; health care products and beauty services; household items, interior and exterior décor, and handicrafts; as well as equipment, technology, and services in sectors like electronics, automobiles, and telecommunications.

The Ministry of Finance is working to establish a mechanism for regular and ongoing dialogue with international credit rating agencies, including Fitch, Moody’s and S&P. (Illustrative image: VNA)

Fitch Ratings upgrades Vietnam’s senior secured long-term debt rating to BBB-

The rating for Vietnam’s secured long-term debt was raised to BBB-, equivalent to investment grade, one notch higher than the country’s long-term foreign-currency rating on unsecured debt, which remains at BB+. The upgrade followed Fitch’s review under its revised Sovereign Rating Criteria issued in last September, said the Ministry of Finance.

A view of the site where the Ninh Thuan 1 Nuclear Power Plant is located in Phuoc Dinh commune, Khanh Hoa province (Photo: VNA)

Nuclear experts urge century-long commitment at 14th Party Congress

VietNuc’s executive board, including Chairman Bui Nguyen Hoang from the Électricité de France SA (EDF) (EDF), Ung Quoc Hung from Setec Nucléaire Group, and Vu Minh Ngoc from French National Radioactive Waste Management Agency Andra, hoped that the Congress would refine mechanisms and policies to better tap OV nuclear talents.

Ahmad Haikal Hasan, Head of the Halal Product Assurance Organising Agency (BPJPH) of Indonesia, speaks at the seminar (Photo: VNA)

Indonesia ready to cooperate with Vietnam in halal sector

Ahmad Haikal Hasan, Head of the Halal Product Assurance Organising Agency (BPJPH) of Indonesia, described Vietnam as a “potential supplier” of halal products with the capacity to play a larger role in the market, particularly in the fast-moving consumer goods (FMCG) sector. He revealed a plan to visit Vietnam next week to discuss the country’s progress in the global halal industry.

Delegates perform the opening ceremony. (Photo: VNA)

Thailand Week 2026 opens in Hanoi

The event brings together more than 100 companies, including Thai enterprises and Vietnamese importers, across about 120 booths. It features a wide range of Thai products aligned with consumer trends in Vietnam, including food and beverages, health and beauty, mother-and-baby and pet products, fashion and jewellery, household goods and tourism services.

Illustrative image (Photo: VNA)

Vietnam remains Singapore’s third-largest seafood supplier in 2025

Data released by the Accounting and Corporate Regulatory Authority of Singapore (ACRA) show that Singapore spent 125.5 million SGD (97.7 million USD) importing seafood from Vietnam last year, up 10.7% year on year, accounting for 10.3% of the city-state’s total seafood import market.

Workers assemble mobile phone components at Diem Thuy Industrial Park in the northern province of Thai Nguyen. (Photo: VNA)

Electronics exports surpass 107 billion USD in 2025

With an export turnover of 107.75 billion USD in 2025, computers, electronic products and components not only maintained their position as Vietnam’s largest export by value, but also contributed more than half of the overall increase in the country’s export turnover in 2025.