Strong e-payment growth recorded in 2019

A customer makes a mobile payment. Cashless payments grew strongly in 2019 - Photo: VNA

Speaking at a meeting in Hanoi City on December 31 last year, Pham Tien Dung, director of SBV’s Payment Department, noted that as of November 30, 2019, e-payment transactions had soared by 17.8% year-on-year.

The director stated that last year, the country saw outstanding results for e-payments. In November, domestic transactions with bank cards surged by over 42.5% year-on-year, with the total value soaring by 35.4%, whereas online payments rocketed by 69.4% in volume and soared 37.1% in value versus the figures seen in November 2018.

Mobile payments also skyrocketed by 196.8% in volume and 225% in value, he added.

The country has seen up to 50 banks cooperating with the customs agencies to collect taxes online. Some 95% of customs agencies’ collections have been conducted through banks, and 99% of firms have registered for e-tax payments.

Besides this, 27 banks and 10 intermediate payment service providers have offered electricity fee collection services to power companies.

Moreover, as many as 30 hospitals have launched e-payment services. Some hospitals saw 35% of the total transactions being conducted under the non-cash payment model.

This year, the banking sector will continue to build and introduce its technology infrastructure and expand its scale of payment services for residents to ease their payments.