Feb 26, 2018 / 17:07

All restaurants, supermarkets in Hanoi to accept non-cash payments by 2020

Within the next two years, 100% of supermarkets, restaurants, shopping centers, and modern distribution sites in the capital will have non-cash payment devices or systems in place, as per the city’s scheme to reduce cash payments.

The city has just issued the new document to conduct the scheme of Hanoi heading to cashless payments during 2018-2020.
Accordingly, the city aims to ensure that by 2020 all supermarkets, restaurants, and distribution centers in Hanoi will have non-cash payment systems or devices.
Illustrative photo
Illustrative photo

By then, 85% of suppliers of electricity, telecommunications, and communication will accept bill payment via cashless payment channels, while 60% of individuals and households will pay by card or mobile channels for their shopping and consumption, according to the scheme.
In the time ahead, Hanoi will focus on founding additional payment channels and measures applicable to remote areas, hence encouraging local people to use modern payment services. As expected, the policy would raise the accessibility of payment services. Especially, it’s among the targets that the number of bank-account owners above the age of 15 will grow by at least 70% by the end of 2020.
In addition, the city would implement a number of measures to develop e-payment and retail payment services, as well as strengthen e-payment in public administrative services and guidance on non-cash payments to the citizens. 
Under the scheme, the Hanoi People’s Committee also requested the Hanoi branch of the State Bank of Vietnam (SBV) and related institutions to provide more payment services via bank account. It includes a goal of having more utility payments like electricity, tuition, telecommunications, and television made electronically. 
In the near future, the city will also invest in developing digital infrastructure, e-payment services such as internet-banking, near-field communication (NFC) payment, e-wallet, and non-touch payment, among others.
The Vietnamese government aims to cut the total number of cash transactions nationwide by 90% by the year 2020. The effort is part of a campaign aimed at making it easier for Vietnamese citizens to use banking services. The SBV noted that the ratio of cash in the total means of payment is decreasing, going from 14.02% in 2010 to 11.45% in August 2017.

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