Cash payment accounted for only 12% of total payments

	Electronic payment of public administrative services promoted
	The case of deleting deferred payment
	Electronic payment for registration fees of automobiles and motorcycles implemented from the first quarter of 2017

The activities of non-cash payments in Vietnam changed dramatically. Photo: H. Diu.

The Payment Department (under the State Bank of Vietnam) said that the activities of non-cash payments in Vietnam changed dramatically, achieved the assigned objectives as well as promoting the perceptions and habits of people and enterprises in non-cash payment.

Specifically, the technical infrastructure for card payment services has been improved in quality with the number of POS machines increasing rapidly. At the end of October 2016, in Vietnam, there were more than 254,000 POS and 17,379 ATMs installed (an increase of 13.77% and 5.39% compared to the end of 2015 respectively).

The services and means of non-cash payments, especially electronic payments have been developing with various products and new media which are safe and convenient to better meet the needs of the customers, in line with the trend of development in the region and in the world.

The bank cards continue to grow. Accordingly, the number of issued bank cards and the value of card transactions have increased rapidly. At the end of October 2016, the number of issued bank cards reached 110.8 million cards (an increase of 11.36% compared to the end of 2015).

The security and confidentiality of electronic payments has been enhanced; and the technology system of organizations providing payment services and payment intermediary services has been safe and secured.

Some commercial banks have been actively investing in applying new and modern technology solutions of payments, such as fingerprint authentication, biometrics, use of QR Codes and non-contact payments, which brings convenience and safety in electronic payment transactions.

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Therefore, the proportion of cash payments in total means of payments has tended to decrease, from 14.02% (in 2010) to around 12% today. The proportion of people with a bank account is at a high level; to the end of October 2016, there were 67.4 million personal accounts (compared to 16.8 million accounts at the end of 2010).