Banks are applying many solutions to support online payments.

Eliminate the distance

The trip back to my hometown was quite rushed, making me feel confused when I forgot to withdraw cash to “pocket”. However, what surprised me was that most of the shops we visited had QR payment services. Many shops implemented the service of receiving money transfers and paying bills quite conveniently, so the worry of not having cash to pay was somewhat reduced.

Ms. Pham Thi Van, owner of a fruit stall in Phong Hai, Phong Dien shared: Currently, many people, especially young people and civil servants, when going to the market to buy goods, require payment by bank transfer, so I also had to register a bank account for the convenience of customers. At first, I was not used to it, I was also hesitant, but thanks to the guidance of my children, I gradually got used to it. Now, not only do I receive payments, I also regularly use my account to pay for goods, transfer money to my children who are studying far away from home. E-commerce is also convenient, no need to give change, no need to exchange small bills to return change to customers, and checking is also easy so there is no problem of losing money.

Along with the strong development of digital banking services, payment activities have gradually expanded to the target audience regardless of age, education level. This payment activity is not only applied in modern supermarkets, but has penetrated into every corner of life. Even in traditional markets, sidewalk eateries or small grocery stores, scanning QR codes and transferring money via phone is gradually becoming popular.

According to data from the State Bank of Vietnam (SBV) Region 9, by the end of 2024, the total number of e-commerce businesses in the area will account for about 40% of the total number of businesses with bank accounts. The total number of ATM and POS transactions in the province will increase by 26% compared to 2023, reaching about VND 36,679 billion. The number of transactions via electronic channels will grow strongly, of which, via mobile banking will increase by more than 166%; via internet banking will increase by 28% compared to 2023.

Technology leads the way

According to the assessment from the State Bank of Region 9, banks and payment intermediaries have continuously made efforts to innovate, develop and improve the quality of digital technology applications to bring users the optimal experience.

For example, at Vietcombank Hue, all financial needs such as services related to opening an online account, issuing physical cards, non-physical cards, opening - closing savings accounts, transferring money via phone number, transferring money and paying via QR code, are all met simply, conveniently and quickly on the same VCB Digibank application. Vietcombank provides the market with many modern payment solutions such as: Solution to turn personal mobile devices into Vietcombank Tap to phone card payment acceptance devices; investing in improving the SmartPOS system; registering for online card acceptance unit services through the Rapid Merchant Onboarding solution; digitizing electronic card receipts. Vietcombank launches Apple Pay, Samsung Pay, Google Pay and Garmin Pay to bring customers a modern, easy payment experience with just 1 touch with optimal security.

Deputy Director of the State Bank of Vietnam Region 9 Pham Ba Nam affirmed that 100% of commercial banks in the area have implemented multi-channel provision of internet banking and mobile banking services. Currently, most basic banking services have been implemented on digital channels. Banks in the area have been implementing and coordinating with payment intermediary organizations to widely deploy many forms of payment towards residential areas in districts, towns, and industrial parks to create favorable conditions for people to access banking services. This has contributed to partially eliminating the gap in access to payment services for people in rural, remote and isolated areas.

The State Bank encourages credit institutions to implement digital transformation, connect and cooperate with different sectors and fields to form and expand the digital ecosystem, provide customer-centric products and services, and provide seamless and personalized transaction experiences. At the same time, strengthen the security, safety and confidentiality of payment and banking activities; direct service providers to actively deploy safe and secure solutions in online payments and bank card payments to protect the legitimate rights and interests of customers. At the same time, promote communication and financialeducation to improve people's knowledge and skills in using financial and banking products and services.

Payments in the field of public service collection and social security program payments have also gradually shifted to e-commerce. During the year, tax collection through e-commerce reached VND 18,648 billion. The total value of electricity bill payments through banks increased by 22%; water bill payments increased by 47%; tuition payments at universities and colleges through banks increased by nearly 108%; hospital fees increased by nearly 12% over the same period in 2023. The total value of social security payments in the city through banks also reached VND 1,813 billion, an increase of nearly 38% over the same period in 2023.

Article and photos: HOANG ANH

Source: https://huengaynay.vn/kinh-te/xoa-dan-khoang-cach-trong-tiep-can-dich-vu-thanh-toan-154919.html