The Vietnamese Prime Minister, Nguyen Tan Dung, has
recently approved a plan to promote non-cash payment in Vietnam in 2011-2015
period whereby till the end of 2015, the cash ratio in the total money supply
is targeted to be at less than 11% and the ratio of account at banks for people
would increase to 35-40% of the population.
The scheme also clearly
revealed the development plan of card payment services with the focus of
developing the points of sales (POS). By 2015, the market will have
approximately 250,000 POS devices to be installed with the number of
transactions of about 200 million transactions/year.
The scheme aims to diversify
payment services, develop payment infrastructure, accelerate the application of
electronic payment technology and focus on developing non-cash payments in
rural areas to meet better the payment needs of the economy.
The scheme will also further
expand the salary payment via accounts and enhance the quality of salary
payment services through bank accounts and other enclosed services.
In addition, the scheme also
encourages the development of multipurpose and multi-function cards (to collect
tolls, buy gasoline, bus tickets, taxis and pay for social insurance) and
development of non-cash payment forms in the payments of charges and periodic
fees (electricity, water, telephone).
VietBiz24
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