Sharing information at the press conference, Mr. Pham Anh Tuan, Director General of the SBV Payment Department, informed that, as of the present day, the credit institutions have been providing a variety of payment products and services, meeting better the customers’ needs and the requirements of the economy. Mr. Tuan assessed that non-cash payment has started to become a habit among many people and businesses.
Mr. Pham Anh Tuan answers the reporters' questions
According to the SBV, the value of non-cash payments in 2024 reached over VND 295,200 trillion, equivalent to 26 times of Vietnam's GDP. In the same year, the percentage of Vietnamese people aged 15 and over with bank accounts reached almost 87%.
The SBV’s statistics also shows that, by the end of Q1 of 2025, non-cash transactions had increased by 44.43% in the number of transactions. Specifically, transactions via the Internet and QR codes had risen by 40.41% and 81.64% respectively.
Currently, there are 47 institutions providing e-wallet services with about 30.27 million active e-wallet accounts, accounting for 65.8% of the total 46.01 million e-wallet accounts activated. Regarding the infrastructure for non-cash payments, according to the representative of the SBV Payment Department, the banking sector has been operating a stable and smooth inter-bank electronic payment system.
Regarding the legal framework, the revised Law on Credit Institutions was submitted and passed by the National Assembly (coming into force on July 1, 2024). The revised Law now provides additional regulations on e-banking services, payment agency operations, etc. On that basis, the SBV had drafted and submitted to the Government for promulgation a Decree on Non-Cash Payments, and another Decree on a Regulatory Sandbox Mechanism, as well as seven (07) Circulars providing guidance for the implementation of the Law and the Decrees.
The guiding Circulars issued by the banking sector cover a wide spectrum of operations, from the payment agency operations to non-cash payment service provision, and the opening and the use payment accounts, etc.
The Cashless Day 2025 events would focus on the theme of promoting the digital transformation and developing a digital economy, with the most outstanding event being a cashless festival called ‘Ting Ting Day’, and would take place on June 14-15, 2025 at Nguyen Hue walking street, District 1, Ho Chi Minh City.
Source: sbv.gov.vn
