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Cash payment declines by 2% in six years

by VTV424 January 2017 Last updated at 13:46 PM

VTV.vn - Cash as a mode of payment has declined in the country by 2% in the past six years, from 14.02% in 2010 to the current 12%.

As per the State Bank of Vietnam's recent report, the country currently has around 67.4 million bank accounts compared to 16.8 million accounts in 2010. Modern infrastructure and technology to facilitate non-cash payments, especially online payments, have developed significantly. There are around 254 thousand points of sales and over 17 thousand automatic teller machines, up 13.77% and 5.39%, respectively, compared to end of 2015. The Government also recently approved a policy encouraging cashless transactions in Vietnam in order to reduce the number of cash-based deals, improve electronic payment methods and control tax evasion.

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