SBV to enhance domestic banking landscape through non-cash payment reform
The central bank plans to have 250,000 POS in place to process 200 million card payment transactions by 2015.
In end-2012, the Vietnamese government issued a decree aimed at reducing the volume of cash payments. The scope of the regulation covered various aspects of non-cash payments, including the opening and usage of payment accounts, non-cash payment services, payment intermediary services, organising, managing, and supervising payment systems.
Specifically targeting non-cash payment services providers, payment intermediary services and users, the new rule took effect in March 2013 and states that the purposes of payment accounts, and the rights and responsibilities of accountholders and…
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Categories: ATMs & Kiosks
, Consumer Finance
, Retail Banking
, Retail Payments
, Vietnam Eximbank
, Non-Cash Payment