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).

Illustration photo

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

  Reader opinion
Turn off Vietnamese typing Automatic typing Telex VNI VIQR  
Fullname Email address