Government Strongly Urges Non-cash Transactions

The government is aiming high for non-cash transactions, demanding that payments for public services be made for the most part via banks by 2020.

The prime minister has approved a plan to promote payments for public services such as taxes, electricity and water bills, school and hospital fees and social welfares via banks. The plan will help promote non-cash payments in many areas including public services, contributing to developing the e-Government and enhancing the use of banking services.

All universities and colleges will have to accept tuition fee payments via banks by 2020 and 80 percent of students of universities and colleges should pay their fees via bank accounts.

By 2020, some 80 percent of tax payments in cities are to be made via banks, so are all payments at State treasuries of centrally-governed cities and provinces as well as cities, towns and districts of centrally-governed provinces for State budget revenue collection.

In addition, 70 percent of energy companies will accept power bill payments via banks and the same rate is also scheduled for water suppliers. Up to 50 percent of individuals and households in large cities will also pay water bills via banks.

Meanwhile, half of hospitals in large cities will accept payments for medical services via banks by 2020.

According to the State Bank of Vietnam’s website, HCM City has piloted online payment solutions at the municipal Departments of Health, Planning-Investment and Natural Resources-Environment since early this year. Such solutions have been integrated on the websites of the foresaid departments and the city’s public services portal at https://dichvucong.hochiminh.city.gov.vn.

english.thesaigontimes.vn/58616/Government-strongly-urges-non-cash-transactions.html

 

Category: Finance, Vietnam

Print This Post

RECENT NEWS

Reference Exchange Rate Down 5 VND On August 27

Intellasia East Asia News The State Bank of Vietnam set the daily reference exchange rate at 23,208 VND per USD on Aug... Read more

VietCapital Bank Submits To Issue 38m Shares

Intellasia East Asia News Viet Capital Commercial Joint Stock Bank (Viet Capital Bank) (UPCoM: BVB) had just released ... Read more

Payment Via Mobile Banking Increases By Nearly 180pct In H1

Intellasia East Asia News Sharing at the workshop on “Promoting non-cash payments in businesses” held by Dien dan ... Read more

Banks Heat Up Digital Transformation Race

Intellasia East Asia News The 4.0 Industrial Revolution is making a comprehensive change to the way of providing produ... Read more

Outlining Deep Scrutiny Of HSBC Vietnam Bond Activity

Intellasia East Asia News Vietnam’s corporate bond market presents a good channel for capital mobilisation, even if ... Read more

VIB Prepares For The Unusual General Meeting Of Shareholders

Intellasia East Asia News The Board of directors of International Commercial Bank (VIB) has just announced a resolutio... Read more