Nguyen Tri Hieu, a banking expert, has thrown his support behind a plan by the Ministry of Information and Communications to pilot Mobile Money, which allows consumers to make payments via their telecom accounts, saying that it can help track the origin of money and thus prevent money laundering, news site Vietnamplus reported.
HCMC-based banks are launching promotional programs to attract recipients of remittances which normally surge before the Lunar New Year holiday, or Tet, Nguoi Lao Dong newspaper reported.
The overall consumer credit market slowdown in 2018 could have sent FE Credit in to slower growth, but the consumer finance company expects to conclude the year with rather upbeat results, whilst preparing for a gentler pace (in percentage terms), but more sustainable growth in the years ahead.
Vietnam International Bank (VIB)’s pre-tax profit recorded a significant yearly growth of 95 per cent to more than VND2.74 trillion (US$118 million) in 2018, the bank announced on Thursday.
Both finance companies and banks are promoting consumer lending to capitalise on high demands ahead of the country’s largest holiday Lunar New Year (Tet).
Vietnam will trial a mobile payment program to increase its cashless payment rate.
Tuoi Tre (Youth) newspaper, one of the leading dailies in Vietnam, has suggested celebrating ‘Cashless Day’ on June 16 every year as a way to promote non-cash payment in the Southeast Asian country.
MoMo cements its position as the number one e-wallet and digital financial services platform in Vietnam with another year of record-breaking growth in 2018 on the back of the Series C investment led by Warburg Pincus, a leading global private equity firm.
An entrenched cash using habit and safety concerns are the main reasons for people not to switch to non-cash payments, a workshop heard in HCM City on Tuesday.