Over the past 2 years, the State Bank of Vietnam has cooperated with the Central Banks of several countries in the ASEAN region such as Thailand, Cambodia and Laos to test bilateral payment connections via QR Code to promote retail payments. cross-border via QR code between Vietnam and other countries.
Recently, the State Bank has also researched and advised competent authorities to promulgate or promulgate according to its authority a number of policies and regulations to facilitate the development of non-cash payments such as the Law on Prevention and Control. , anti-money laundering, Law on Credit Institutions 2024, Decree 52 of the Government on non-cash payments takes effect from July 1, 2024.
Decree No. 52 was issued with the aim of creating a basic, solid legal framework for non-cash payment activities, promoting non-cash payment, facilitating business activities, providing Providing many new, convenient, safe payment products and services at reasonable costs.
The State Bank of Vietnam is also urgently completing draft circulars guiding Decree No. 52 to create a consistent and solid legal corridor on non-cash payments, promoting non-cash payments associated with ensuring security. , safety and protection of service users’ rights.
The latest is Decision 2345 on solutions for safety and security in online payments and bank card payments in the direction of balancing strong customer authentication and seamless customer experience.
In addition, the SBV also established a working group and issued Plan 01 of the banking sector to implement Project 06.
Infrastructure serving cashless payments such as the interbank electronic payment system, financial switching system and electronic clearing system is continuously invested in, improving service quality and expanding utilities. , improving processing capacity, serving the needs of system members well and thereby meeting the increasing needs and expectations of end users – people and businesses – for products and services. banking industry service.
The number of transactions through the interbank electronic payment system in the period 2021-2023 increased on average by more than 23.5%/year and processed an average payment value of 830,000 billion VND/day.
The number of transactions through the financial switching and electronic clearing system increases on average by more than 145.8%/year and the average processing volume of payments ranges from 20 – 25 million transactions/day.