Today: 07/07/2020 09:39:18 (GMT+7)

Bac Giang enhances non-cash payment solutions

(BGO) – Currently, the rate of cash payment is much higher than the set target for national payment method, accounting for 11.33 percent.

According to the Bac Giang branch of State Bank, the provincial units conducted non-cash payment with total value of over 218 trillion VND (9.3 billion USD) via bank system in 2019. Since the beginning of this year, the provincial units transacted nearly 130 trillion VND (5.5 billion USD) by non-cash method that accounted for a low rate.

Bac Giang province, non-cash payment, national payment method, total value, civil transaction, electronic payment infrastructure, credit organizations

The customer uses non-cash payment method to buy commodities.

Actually, the cash is popularly used in civil transaction, especially in rural and remote areas which cannot ensure the safety. Meanwhile, cashless payment in medical and educational sectors are limited.

Implementing the Prime Minister’s order on May 28, 2020, the provincial People’s Committee (PPC) issued correspondence to the provincial branch of State Bank to chair and coordinate with the relevant organizations and agencies to consult the PPC Chairman about the solutions to develop the non-cash payment.

Accordingly, the relevant agencies should further complete the linkage between the electronic payment infrastructure of credit organizations with the infrastructure of Tax office, Customs office, State Treasury to coordinate in collecting the State budget via electronic method.

Also, they should research to expand the solutions to allow the commercial banks to seek information of customs declaration sheets, support commercial bank in control document, payment papers for import and export as well as restrict the risk of fraud.

The hospital should be instructed to coordinate with the credit organizations and payment intermediate agencies to collect the medical charges via non-cash payment method while considering to collect the educational fees without using cash...

Vietnam cashless spending up 39 percent
Spending via Visa credit and debit cards last year surged 39 percent year-on-year as Vietnamese consumers became less dependent on cash.
Further fee reductions to promote cashless payments amid COVID-19
The fees for fast interbank fund transfers will be cut for the second time this year to promote cashless payments amid the rapid spread of the COVID-19 outbreak, the National Payment Corporation of Vietnam (NAPAS) announced on March 16.
Banks, fintech firms promote cashless payments during epidemic
To prevent the spread of the new strain of coronavirus in Vietnam, customers are encouraged to adopt cashless payment methods.
South Korean firm to invest $700 mln towards cashless payment in Vietnam
Financial solutions firm Alliex will invest over $700 million to build shared Point of Sales (POS) across Vietnam.
30 hospitals implement cashless payments
About 30 hospitals have carried out cashless payments so far, contributing to reducing queuing time and improving patient satisfaction, heard an online conference held by the Ministry of Health on September 20.

Minh Linh

Bac Giang province, non-cash payment, national payment method, total value, civil transaction, electronic payment infrastructure, credit organizations
New comment has just been added. Click here
Sort:NewBest News