SGGPO 09/20/2023 13:30

On September 20, at a press conference announcing the series of events for Vietnam Card Day 2023, Mr. Le Anh Dung, Deputy Director of the Payment Department of the State Bank, said: Cashless payment is an inevitable trend in the world and Vietnam is no exception.

According to Mr. Le Anh Dung, new and modern technologies in payment are being applied such as contact and contactless chip card technology, quick response code (QR Code)... Along with traditional methods, banks are also actively implementing the issuance of bank cards by electronic method (eKYC).

According to the State Bank of Vietnam's Payment Department, by the end of July 2023, the country had more than 103 million domestic cards and 36.7 million international cards in circulation. Of these, nearly 10.8 million cards were opened electronically. Commercial banks have integrated many features and utilities into bank cards to use for safe and convenient payment of goods and services with customer experience.

According to experts, Vietnam is a potential market with 70% of the population being young, of working age, with stable income, and large untapped consumer demand, so there is great potential for expanding the domestic credit card market. Through the activities, the 3rd Vietnam Card Day event series will contribute to popularizing and promoting new services and payment methods of Vietnamese banks to the people, starting with the youth. This is also an important goal in the National Financial Inclusion Strategy and the Project on developing non-cash payments.

MC Khanh Vy - Ambassador of Vietnam Card Day 2023

Mr. Nguyen Quang Hung, Chairman of the Board of Directors of Vietnam National Payment Joint Stock Company (NAPAS) said: “By the end of the second quarter of 2023, payment activities through NAPAS's network increased by 65.1% in number of transactions and 12.1% in value compared to the same period in 2022. In particular, cash withdrawal transactions via ATMs in the second quarter of 2023 tended to decrease by 13.5% in number and 17.8% in transaction value compared to the same period in 2022. The data shows that the trend of electronic payments is still growing strongly and there is a shift to replace cash in daily life".

Journalist Le Xuan Son, Editor-in-Chief of Tien Phong Newspaper, Head of the Organizing Committee said: The highlight of Vietnam Card Day 2023 is the workshop "Promoting card payment activities and future payment trends" gathering domestic and international experts, banks, leading card organizations, discussing and proposing solutions to contribute to promoting card activities, shaping future payment trends.