US$13 billion handled per day through interbank e-payment in 2018
15:59 | 12/06/2019

VGP – Viet Nam's interbank e-payment system handled 37 million transactions worth nearly VND21 quadrillion (US$898.4 billion) in the first quarter of the year, up 23% and 17.8% respectively compared to 2018, according to the State Bank of Viet Nam (SBV).

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The number and value of transactions performed online in the first three months of the year rose by 68.8% and 13.4% over the same period last year.

By the end of March, the country had 18,668 ATMs and 261,705 POS cards.

Viet Nam's interbank e-payment system handled VND 73 quadrillion in 2018, witnessing the growth of 25% compared to the previous year and an increase of 13 times higher than the GDP. As much as US$13 billion were handled per day through interbank e-payment. 

According to PwC’s 2019 study on 27 nations and territories, mobile payments in Viet Nam are growing fastest globally with the proportion of mobile payments increasing from 37% to 61%. Mobile payments saw a sharp growth of 169.5% compared to 2017. 

Viet Nam targeted that the ratio of cash transactions should be cut to below 10% lower than the national plan of non-cash payment market for 2016-2020.

According to the statistics of the Ministry of Planning and Investment, as of December 2018, the proportion of cash payment only accounted for 11.49%.

By Thuy Dung

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