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.

According to the SBV’s Payment Department, cashless payment is becoming a trend in Viet Nam. Cash payment has reduced from 14 per cent in 2010 to 12 per cent at present. 

Accordingly, State Bank of Viet Nam (SBV), in conjunction with other relevant bodies, must scrutinise and build up legal frameworks for the management and pilot application of the services.

The new payment services will mainly relate to public services, such as tax, electricity, water, tuition, hospital fees and social and public welfare programmes.

Earlier, the Prime Minister had approved a project on fostering the payment of public services via banking.

Under the project, the Government targets to collect 80 per cent of tax payments in cities and provinces via banks by 2020, while all State treasuries will have cashless payment devices.

The scheme also targets non-cash payments to be accepted by 70 per cent of power companies, 70 per cent of water companies, 100 per cent of universities and colleges and 50 per cent of hospitals in major cities. Some 20 per cent of social welfare payments will also be made via banks.

According to the SBV’s Payment Department, cashless payment is becoming a trend in Viet Nam. Cash payment has reduced from 14 per cent in 2010 to 12 per cent at present, the department said.

It reported that 96.2 million cards have been issued nationwide, up 210 per cent from early 2011.

There are some 60 organisations providing internet banking payment services and 30 organisations providing mobile banking payment services.

The payment infrastructure has also been improved, as evident in the rapid increase of ATMs and points-of-sale machines, up 47 per cent and 300 per cent, respectively. — VNS