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Number of e-transactions jumps nearly 56% in Jan-Mar
Thursday,  4/29/2021, 11:19 

Number of e-transactions jumps nearly 56% in Jan-Mar

The Saigon Times

An individual holds a Vietinbank bank card. Cashless transactions through the local banking system have been growing strongly – PHOTO: TNO

HCMC – Cashless transactions through the local banking system have been growing strongly, with over 156 million transactions worth VND8,100 trillion being made via the internet over the first three months of the year, up 55.9% in volume and 28.4% in value against last year’s figures.

Also, during the three-month period, over 395 million transactions worth over VND4,600 trillion were carried out via mobile phones, soaring 78% in volume and a whopping 103% in value. Further, transactions using QR codes surged 83% in volume and 146% in value at 5.3 million transactions worth over VND4.4 trillion.

According to the State Bank of Vietnam, more than 79 financial institutions are offering cashless payment services via the internet and 44 units offer the services via mobile phones in the country, reported Thanh Nien newspaper.

Payments made through the banking system for public services have also been improved both in quantity and quality. For instance, 92.3% of budget collection transactions were conducted through the banking system and 94.3% of electricity bills were paid through the system.

Further, the operations of the country’s interbank payment and financial switching systems remained stable and safe. In the year to March, the total number of interbank transactions amounted to 37 million units worth over VND31,000 trillion, rising 6.32% in volume and nearly 23% in value versus last year’s figures.

The National Payment Corporation of Vietnam’s financial switching and electronic clearing system also saw over 482 million transactions worth nearly VND4,600 trillion made, expanding over 103% in volume and over 147% in value compared with last year’s figures.

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