BY THE END OF 2025, 80% OF PEOPLE AGED 15 YEARS OR OLDER WILL HAVE BANK ACCOUNTS
On October 28, 2021, the Prime Minister issues the Decision No. 1813/QD-TTg approving the Scheme on development of non-cash payment in Vietnam during 2021 – 2025.
Accordingly, by the end of 2025, the value of non-cash payments will be 25 times higher than the Gross Domestic Product (GDP); non-cash payments shall account for 50% of e-commerce transactions; 80% of people aged 15 years or older shall have transaction accounts in banks or other licensed organizations; 90 - 100% of education institutions in urban areas will accept payment of school fees by non-cash payment instruments; 60% of health examination and treatment establishments in urban areas will accept payment for medical services by non-cash payment instruments, etc.
In order to achieve the above-mentioned targets, the Governments sets out some solutions for non-cash payment development, including improving the legal framework, mechanisms and policies; upgrading and developing modern payment infrastructure that operates on a safe and effective manner; developing modern payment services and applying the achievements of the Fourth Industrial Revolution; promoting e-payment in the governmental sector and public administrative services, etc.
This Decision takes effect on the signing date.
