Payments and money transfers via the Internet, mobile phones, QR codes have continued to achieve positive results. New, safe and convenient products, services and payment methods are now providing more practical benefits to the people and businesses.
Ms. Le Thi Thuy Sen, Director General of the SBV Communication Department, speaks at the press conference
This was the information shared by Mr. Pham Anh Tuan, Director General of the Payment Department of the State Bank of Vietnam (SBV), at a press conference launching the “Vietnam Card Day 2024” series of events. The press conference was jointly organized by the Tien Phong Newspaper and Vietnam National Payment Joint Stock Company (Napas) on September 26, 2024 in Hanoi.
Present in the press conference, on the SBV side, there were leaders of the Payment Department, the Communication Department. In addition, there were also leaders and representatives of Napas, several commercial banks. Especially, Do Thi Ha, Miss Vietnam 2020, has been selected as the Ambassador of the Vietnam Card Day 2024 series of events.
Participants at the press conference
About 37.4 million customers have successfully registered their biometric information
In order to ensure the safety and security for customers engaged in online banking transactions, on December 18, 2023, the SBV Governor issued Decision No. 2345/QD-NHNN on the solutions to ensure the safety and security in online payments and bank card payments. Accordingly, starting from July 1, 2024, all banking transactions exceeding VND 10 million, or if the total value of all electronic transactions in one day exceeding VND 20 million, it is required to apply one of the biometric authentication measures.
Mr. Pham Anh Tuan, Director General of the SBV Payment Department, speaks at the press conference
Over the past time, the SBV has constantly improved the legal frameworks to create favorable conditions for the development of non-cash payments and the digital transformation in the banking sector. On May 15, 2024, the Government issued Decree No.52/2024/ND-CP on non-cash payments. Right after that, the SBV had urgently issued several Circulars and guiding documents for the implementation of the Decree, including Circular No. 15/2024/TT-NHNN, Circular No. 17/2024/TT-NHNN, Circular No. 18/2024/TT-NHNN, and Circular No. 40/2024/TT-NHNN.
The credit institutions, the intermediary payment service providers have focused on developing their digital ecosystems with new, safe and convenient products, services and payment methods, bringing about practical benefits to the people and businesses, such as customer authentication applications using chip-based ID cards, authentication via VneID accounts, etc.
According to the SBV Payment Department, by the end of 2023, the percentage of adults with bank accounts in Vietnam had reached 87.08%. By now, there have been 84 payment service providers providing payment services via the Internet, and 50 providers of payment services via mobile phones. During 7 months of 2024, non-cash transactions had increased by 58.44% in the number of transactions and by 35.13% in the transaction value; transactions via the Internet had risen by 49.83% and 33.72% in the number of transactions and the transaction value respectively, transactions via mobile phones had also gone up by 59.09% and 37.97% in the number of transactions and the transaction value respectively; transactions via QR codes had increased by 106.83% and 105.51% respectively.
Financial education towards a civilized society in using payment services
Ms. Le Thi Thuy Sen, Director General of the SBV Communication Department, speaks at the press conference
Answering questions at the press conference, Ms. Le Thi Thuy Sen, Director General of the SBV Communication Department, informed that the SBV had coordinated with the media, the press agencies to organize financial communication and education programs, to contribute to the realization of the National Financial Inclusion Strategy as well as the Government’s relevant Schemes. Ms. Le Thi Thuy Sen also shared that, in implementing those Schemes and Strategies, the communication activities have contributed to raising the awareness in using financial products and services in the digital platforms in general, and non-cash payments in particular, thereby, helping to change the behaviors and the habits of the customers, contributing to building a healthy financial community in Vietnam.
Miss Vietnam 2020 Do Thi Ha, Ambassador of the Vietnam Card Day 2024 events.
The SBV has coordinated with the relevant entities in order to organize various financial education programs, including “Smart Money", “Wise Money”, “the Money Universe”, and a series of financial education events with the theme of “Tomorrow Bankers”. In addition, the SBV has promoted the communication activities via the social networks, coordinated with the relevant units to create a Financial Education Fanpage (already verified by “green tick” at https://www.facebook.com/giaoductaichinh.official). The Fanpage introduces about non-cash payment products and services, as well as warns people about fraudulent tricks of technology criminals, and instructs people on how to use banking services, as well as safe and secure skills in non-cash payments in particular and in using banking services on the digital platforms in general.
In addition, Ms. Le Thi Thuy Sen also shared that, in the coming time, the SBV would continue to develop more "easy to understand - easy to remember - easy to follow" financial communication and education programs, in order to improve the awareness of the customers, especially the young generations, in using financial and banking products and services.
HY