HANOI, Jan. 11 (Xinhua) -- About 77.41 percent of the Vietnamese adult population own payment accounts with commercial banks, according to the State Bank of Vietnam (SBV).
Commercial banks reported over 90 percent of all transactions conducted through digital channels, with some achieving a rate of up to 98 percent, Vietnam News Agency reported Thursday.
The average annual growth in the number of transactions via QR code in Vietnam has reached 471.13 percent since the payment method's introduction in 2018, said the central bank.
SBV's deputy governor Pham Tien Dung said all banks now provided mobile services, compared to just a few in 2017.
While transactions were previously limited to the field of banking, users of banking applications can now book flight tickets or taxis, or pay power and water bills, showing a very high level of integration between the banking system and other economic sectors, he said.
According to the central bank, the rising number of customers and transactions poses numerous challenges for managing and ensuring security in the payment service sector.
The bank has been working closely with the Ministry of Public Security and other government agencies to implement steps to prevent and minimize the risks of fraud, deception and loss of payment. ■
