CATEGORIES

© Copyright 2004; Hanoitimes - Economic and Urban Newspaper;

The tribune of Hanoi People’s Committee

Publication Permit: 29/GP-CBC

Editor - in - Chief: Nguyen Thanh Loi

Managing Editor: Ta Thu Giang

Email : thugiang@hanoitimes.vn

Head Office: 21 Huynh Thuc Khang Street, Dong Da District, Hanoi

Branch Office: 221 Tran Phu Street, Ha Dong District, Hanoi

WORDS ON THE STREET 70th anniversary of Hanoi's Liberation Day Vietnam - Asia 2023 Smart City Summit Hanoi celebrates 15 years of administrative boundary adjustment 12th Vietnam-France decentrialized cooperation conference 31st Sea Games - Vietnam 2021 Covid-19 Pandemic
Home / Economy / Banking & Finance
Non-cash payments to be developed in Hanoi
Anh Kiet 17:22, 2018/03/05
The Hanoi People’s Committee recently issued a plan to develop non-cash payments, urging all supermarkets and restaurants to put in place cashless payment devices or systems by 2020.
Under Plan No. 51/KH-UBND, 85% of the city’s suppliers of electricity, telecommunications and communication will accept bill payment via cashless payment channels, while 60% of individuals and households will pay by card or mobile channels for their shopping and consumption needs.

The city will also focus on developing new and modern payment methods suitable to rural areas, so that it can encourage local people to use the modern payment services.
 
Non-cash payments to be developed in Hanoi
Non-cash payments to be developed in Hanoi
The plan also targets to increase the number of people having access to modern payment services. Accordingly, at least 70% of the city’s population above the age of 15 will have bank accounts by the end of 2020.

Besides this, the city will take measures to develop e-payment and retail payment services, as well as strengthen e-payment in public administrative services and provide guidance on non-cash payments to the citizens. 

Under the scheme, the committee requested the State Bank of Vietnam (SBV)’s Hanoi branch and related institutions to provide more payment services via bank accounts. It includes the goal of ensuring utility payments such as electricity, tuition, telecommunications and television charges are made electronically. 

In the future, the city will also invest in developing digital infrastructure and e-payment services such as internet-banking, near-field communication (NFC) payment, e-wallet and non-touch payment.

According to the SBV’s Payment Department, non-cash payment is gradually becoming a trend in Vietnam as the use of cash is reducing remarkably. Cash payment has reduced from 14% in 2010 to 12% now, it reported.

The department reported that 96.2 million cards have been issued nationwide, up 210% from the 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 evidenced by the rapid increase of ATMs and points-of-sale (POS), by 47% and 300%, respectively.
Comments
Other news
15:51, 2025/02/24
Vietnam set to have digital banks within financial centers
Credit institutions headquartered in these financial centers will not be bound by restrictions on to foreign ownership or foreign investment conditions when providing services there or across borders.
14:30, 2025/02/15
Hanoi expands cashless parking pilot program
Hanoi is advancing its efforts to integrate technology into urban management by expanding the pilot program for cashless parking payments throughout the city.
16:58, 2025/02/11
Prime Minister urges banks to prioritize economic support over profits
One of the key priorities for the banking sector is to support small and medium-sized enterprises (SMEs), as they generate a large number of jobs and contribute significantly to the economy.
17:23, 2025/02/07
Vietnamese Gov’t forecasts CPI growth of up to 4.5% in 2025
With the goal of at least 8% GDP growth, the money supply in the economy will be significantly larger than in 2024. This will have an impact on price indices, particularly consumer prices.
17:51, 2025/01/07
Vietnam prioritizes agriculture and renewable energy for access to green loans
The move is part of the government’s effort to accelerate economic restructuring and build resilience to climate change while protecting the environment.
16:49, 2025/01/06
Vietnam GDP expands by 7.09% in 2024
The 2024 growth rate is considered positive amidst global uncertainties and domestic challenges such as natural disasters.