Mobile payments will continue to more than double in 2020

14-Jan-2021 Intellasia | Doanh nghiep va Tiep thi | 6:02 AM Print This Post

According to data recently announced by Pham Tien Dung, director of the State Bank of Vietnam’s Payment Department (SBV), in 2020, SBV together with relevant ministries, agencies and agencies continue to synchronously deploy. many solutions to promote non-cash payments

Accordingly, the business centre and payment for public services in 2020, although affected by the Covid-19 epidemic, will continue to have strong growth, especially payments via mobile phones; the application of modern technology in the payment field and the development of digital banking has strongly developed.

By the end of November 2020, the number of payment transactions via mobile phones reached more than 1.044 trillion transactions with a value of nearly 10.9 quadrillion dong, up 118.5 percent in volume and 121 percent in value. compared to the same period in 2019. Meanwhile, the number of payment transactions via the Internet reached nearly 421.8 million transactions with a value of more than 24.6 quadrillion dong, up 10.8 percent in volume and 24, 4 percent of transaction value over the same period in 2019…

Thus, non-cash payment transactions will continue to grow strongly in 2020 despite the Covid-19. More notably, the momentum was much higher than expected after the market recorded in 2019, with a very strong growth with 210 percent increase in mobile payment and 64 percent increase in internet volume and 37 percent in value.

 

Category: Finance, Vietnam

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