Monday, 17/03/2025
   

Cashless payments flourish in first nine months of 2021

Cashless payments continued to grow fast in the first nine months of 2021 to top 36.28 quadrillion VND (1.6 billion USD), according to a recent report by the Government.
Cashless payments flourish in first nine months of 2021
Cashless payments flourish in first nine months of 2021
During the period, 435.25 million transactions worth 22.78 quadrillion VND were made via the internet, up 54.1 percent in volume and 30.7 percent in value. More than 1.19 billion others worth over 13.5 quadrillion VND were conducted via mobile phone, surging 74.98 percent in volume and 93.69 percent in value.
The Government said cashless payments for public services have improved considerably in terms of both quantity and quality.
Businesses nationwide have made more than 90 percent of their tax payments via bank transfer. A large number of people have also used this method to pay power bills and medical examination and treatment fees or receive pensions and allowances.
However, payment frauds have also become increasingly complicated across the country, the report pointed out.
Speaking at a discussion last week, Dao Minh Tuan, head of the card division of the Vietnam Banks Association, said though credit institutions have continually updated security technology, payment scams remains sophisticated.
Representatives of banks held that coordination among relevant parties is needed to ensure payment security and safety.
  • EIB to help SBV in promoting green finance

    EIB to help SBV in promoting green finance

    On March 12, 2025, Deputy Governor Nguyen Ngoc Canh met with Ms. Nicola Beer, Vice President of the European Investment Bank (EIB), at the headquarters of the State Bank of Vietnam (SBV)

  • Acquirers of weak banks get incentive policies

    Acquirers of weak banks get incentive policies

    The State Bank of Vietnam (SBV) completed the compulsory transfer of four vulnerable banks, CB, Oceanbank, DongA Bank and GPBank to Vietcombank, MB, HDBank, and VPBank, respectively.

  • Sandbox for digital assets in Vietnam: if not now, when?

    Sandbox for digital assets in Vietnam: if not now, when?

    Vietnam has emerged as one of the world’s most dynamic cryptocurrency markets. According to various reports, the country has consistently recorded over $100 billion in annual crypto inflows from 2022 to 2024, surpassing its foreign direct investment multiple times.

  • SBV requests banks to proactively supply credit for rice production, processing, and export in Mekong Delta

    SBV requests banks to proactively supply credit for rice production, processing, and export in Mekong Delta

    Implementing the direction of the Prime Minister on the management to ensure the balance of rice supply and demand amid global and domestic market developments, and to promptly meet the credit needs for the production, processing, temporary storage and export of rice, especially for the purchase of commercial rice in the 2025 Winter-Spring crop in the Mekong Delta provinces, the State Bank of Vietnam (SBV) has requested the SBV branches No. 13, 14, and 15 to implement a number of key tasks.

  • Banking sector aims to lend $2.78 million in Region 4 in 2025

    Banking sector aims to lend $2.78 million in Region 4 in 2025

    The provinces in Region 4 are important geographical locations, with Lào Cai and Hà Giang bordering with China to the North, and Vĩnh Phúc and Phú Thọ bordering with Hà Nội to the South.

  • VPBank builds digital branchless bank to serve millions of customers

    VPBank builds digital branchless bank to serve millions of customers

    To realise the dream of developing comprehensive AI, a single organisation is not enough, but it is vital to create a seamless and strong digital ecosystem with thorough investment, according to Bui Hai Quan, vice chairman of the Board of Directors at VPBank, at the AI-Semiconductor Conference (AISC 2025) in Hanoi on March 12.

  • Standard Chartered and State Bank of Việt Nam celebrate women in banking

    Standard Chartered and State Bank of Việt Nam celebrate women in banking

    Standard Chartered Vietnam and the SBV have co-organised a conference themed 'Women in banking take steady steps in digital transformation' in Hà Nội.

  • Banks adjust to balance and cut costs

    Banks adjust to balance and cut costs

    With simultaneous interest rate cuts and accelerated credit disbursement, banks are fuelling Vietnam’s economic breakthrough, driving towards the ambitious targets of 8 per cent GDP growth and 16 per cent credit expansion this year.

  • PVcomBank and BPC mark 10 years of partnership

    PVcomBank and BPC mark 10 years of partnership

    BPC, a global leader in payment solutions, and PVcomBank mark a decade of partnership that has empowered PVcomBank to provide innovative, secure, safe and reliable banking services.

  • Deputy Governor Pham Tien Dzung meets Senior Executive Vice President of ICBC

    Deputy Governor Pham Tien Dzung meets Senior Executive Vice President of ICBC

    On February 28th, 2025, at the headquarters of the State Bank of Vietnam (SBV), Deputy Governor Pham Tien Dzung had a meeting with Mr. Zhang Wei Wu, Senior Executive Vice President of the Industrial and Commercial Bank of China (ICBC). Also attending the meeting, one the SBV’s side, there were representatives of the International Cooperation Department, the Payment Department, and the National Payment Corporation of Vietnam (NAPAS).

Calculate deposit interest
VNĐ
%/year
month
Calculate deposit interest

Loan calculation
VNĐ
%/year
month
Loan calculation