Vietnam intensifies non-cash payments for public services.

Specifically, by 2020, 80% of tax payment transactions in central and provincial-level cities are hoped to be implemented via banks, while all State treasuries will have cashless payment devices.

The scheme also targets non-cash payments being accepted by 70% of power companies, 70% of water companies, 100% of universities and colleges and 50% of hospitals in major cities.

The country will focus on developing new and modern payment methods, especially those suitable for rural areas, as well as for people who don’t have bank accounts.

The country will focus on developing new and modern payment methods.

The country will also develop new multi-functional and multi-purpose bank cards that allow different forms of payments, such as internet banking, and non-touch and near-field communication payments.

More efforts will be made to ensure security and safety during transactions I order to gain consumer confidence, while authenticity measures will be intensified to avoid cases of fraud.

Source: NDO