Vietnam to reduce cash payments to 11% by 2015

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Nhân dân English - 73 month(s) ago 23 readings

Vietnam to reduce cash payments to 11% by 2015

Nhan Dan - Vietnam has set a target to reduce the proportion of cash payments to below 11% by the end of 2015, according to a project to promote non-cash payments in the 2011 - 2015 period.

The project also aims for 35 - 40% of the Vietnamese population to have bank accounts by 2015.

It is predicted that as of 2015 Vietnam will have 250,000 points of sale (POS) handling up to 200 million transactions annually.

Under the project, people will be encouraged to pay their electricity, water and telephone bills via electronic payment systems.

The Government will also adopt incentives to promote non-cash payments including expanding the programme to transfer State employee salaries directly to their bank accounts.

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