Deputy PM Vuong Dinh Hue receives Grab co-founder and CEO Anthony Tan in Ha Noi, October 2, 2018 - Photo: VGP/Thanh Chung At the World Economic Forum on ASEAN held in Ha Noi in mid-September this year, representatives of Grab attended the event and suggested the Vietnamese Government promote non-cash payment. Grab will contribute full tax during its operation in Viet Nam, asserted Mr. Anthony Tan, expecting that the Viet Nam’s laws will allow opening e-wallet account without being connected to a bank payment account and convenience stores to set up e-wallet account as well as applying the e-KYC (electronic Know Your Customer). Besides, the Grab CEO wished to back Viet Nam in building and launching online payment service for public services within the framework of the e-Government plan. Deputy PM Hue said that as many as 78 credit organizations in Viet Nam provide non-cash payment through the Internet and give … [Read more...] about DPM: Gov’t advocates non-cash payment in VN
Non cash payment
Central bank promotes non-cash payment in rural, remote areas
Mr. Son made the statement at a seminar to promote non-cash payment in rural and remote areas held by Nong thon ngay nay (Present Countryside) newspaper and the State Bank of Vietnam on September 28. However, the current problem is to expand network system for non-cash payment in rural and remote areas. Additionally, the central bank allows private organizations to provide services such as collect and pay for banks to help people have more options in paying without using money. Le Thi Thuy Sen, media official at State Bank of Vietnam said that next time, the central bank will increase information of cashless payment and provide guidance of the new way of paying. The central bank will use social network including Facebook and Google to spread the information to greatly contribute to non-cash payment in rural and remote areas. Statistically, at present 99 percent of Vietnamese people use cash for small purchases while 85 percent transaction in using ATMs is withdrawing money.By NGOC … [Read more...] about Central bank promotes non-cash payment in rural, remote areas
Hanoi strives to popularize non-cash payments by late 2020
Hanoi strives to apply non-cash payments in all modern supermarkets, restaurants, shopping centres and distribution facilities Accordingly, 100 percent of all modern supermarkets, restaurants, shopping centers and distribution facilities around the city will apply card and non-cash payment systems. In addition, 85 pct of the electricity, water, telecommunications and communication service providers will accept non-cash payments by individuals and households. Also under the project, 60 pct of all individuals and families will use non-cash payment methods in their shopping and consumption activities. The plan also aims to increase the proportion of people with bank accounts, aged 15 and above, to at least 70 pct by the end of 2020. In order to fulfill the set targets, the city will implement a number of necessary measures, including developing electronic payment and retail payment services, enhancing card payment systems, strengthening electronic payments in e-commerce and public … [Read more...] about Hanoi strives to popularize non-cash payments by late 2020
Experts: Non-cash payments need support
Customers use e-payment services at TPBank’s Livebank (Source: VNA) Hanoi (VNS/VNA) - The Government should create an ecosystem and suitable environment for new products and services as well as pioneer their use to promote the development of contactless payment methods. This could be a foundation for building e-government in Vietnam. Vu Viet Ngoan, Chief of the Advisory Committee to the Prime Minister, made the statement at a conference on how contactless payments support the establishment of a modern and effective e-government by leveraging the development of a digital economy held in Hanoi last week. Ngoan said the technological gap had been reduced from 20 to 10 years. This was the reason that firms without new business ideas would lag behind. “In the conditions of a sharing economy, businesses should make links that combine fintech with banks and credit institutions for development,” he added. According to the master plan to develop non-cash payment in … [Read more...] about Experts: Non-cash payments need support
Non-cash payments need support
The Government should create an ecosystem and suitable environment for new products and services as well as pioneer their use to promote the development of contactless payment methods. This could be a foundation for building e-government in Viet Nam. Vu Viet Ngoan, Chief of the Advisory Committee to the Prime Minister made the statement at a conference on how contactless payments support the establishment of a modern and effective e-government by leveraging the development of a digital economy held in Ha Noi on Thursday. Ngoan said the technological gap had been reduced from 20 to 10 years. This was the reason that firms without new business ideas would lag behind. “In the conditions of a sharing economy, businesses should make links that combine fintech with banks and credit institutions for development,” he added. According to the master plan to develop non-cash payment in Viet Nam by 2020, all supermarkets, commercial centres and modern distribution units should accept … [Read more...] about Non-cash payments need support