77.41% of Vietnamese adults have a bank account

On April 25, in Hanoi, the State Bank of Vietnam (SBV) held a Press Conference to announce the event of Digital Transformation of the Banking Industry in 2024.

Under the direction of the State Bank, the Payment Department and Banking Times coordinated with relevant units to organize a series of Digital Transformation events in the Banking industry on May 8, 2024 at the National Convention Center (Hanoi). .

Following the success of 2023, the 2024 Banking Industry Digital Transformation event aims to spread the positive results of the Banking industry in digital transformation, contributing to strongly promoting national digital transformation, as well as contributing positive for the country’s socio-economic development process.

The theme of this year’s event is “Expanding connections and developing the digital ecosystem” – a continuation of the theme “Application of residential data in banking activities – the driving force for digital transformation” of Banking Digital Transformation Day 2023.

According to the State Bank of Vietnam, last year many credit institutions (CIs) in Vietnam had a rate of over 90% of transactions conducted on digital channels. To date, about 77.41% of Vietnamese adults have bank accounts, more than 35 million payment accounts and about 14.9 million cards opened using the active eKYC electronic method.

In 2023, mobile payments will increase by 59.86% in volume and 12.73% in value; Payment via QR code increased by 242.46% in quantity and 157.2% in value compared to the same period in 2022.

Non-cash payment activities and digital banking activities in the first 2 months of 2024 compared to the same period in 2023 continue to achieve a good growth rate: Non-cash payment transactions increased by 59.6% in number. quantity and 32.73% in value; via Internet channel increased by 51.60% and 23.88% respectively; via mobile phone channel increased by 63.24% and 33.43%; via QR code method increased 846.41% and 1,146.14%; via POS increased 2.53% and 3.56%.

The State Bank of Vietnam has deployed a system to connect and exploit the national population database for the online public service system (issuing digital certificates) from December 2022. Currently, the system has connected and exploited population data to process more than 560 applications. Vietnam National Credit Information Center (CIC) has connected with the national population database to clean 48.5 million credit information.

As one of the units with many positive contributions in implementing digital transformation of the banking industry, talking to Lao Dong, Mr. Nguyen Hung Nguyen – Deputy General Director of Vietnam National Payment Joint Stock Company ( NAPAS) said that with the current rapid growth rate of electronic payment transactions, about 20%/year, NAPAS’s important task is to ensure the national payment infrastructure system is safe. , stable and smooth. Along with that is ensuring the lowest possible transaction processing costs, thereby providing a payment platform that contributes to comprehensive financial universalization.

NAPAS also offers new payment solutions via cards and accounts such as the solution to digitize payment acceptance points (Tap to phone), allowing turning mobile phones into card payment machines (Soft POS); Card digitization services on mobile devices and e-commerce websites/applications (Tap to pay) are expected to be launched soon in the near future.

In addition, NAPAS is coordinating to deploy payment infrastructure, allowing people to use all current payment services including cards, accounts, VietQR to pay for public services performed on the Service Portal. National public service and VNeID application are developed and managed by the Ministry of Public Security.

To date, NAPAS has piloted a number of services, including the service of online payment of fees/charges for issuing criminal records for people.

Regarding the recent issue of online fraud, NAPAS is coordinating with banks and regulatory agencies to offer a number of additional solutions to monitor and early detect accounts showing signs of fraud. forgery to limit risks for customers when making transactions.