Decision 1813/QD-TTg 2021 approving the Scheme on development of non-cash payment in Vietnam during 2021-2025

DECISION

Approving the Scheme on development of non-cash payment in Vietnam during 2021 - 2025

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THE PRIME MINISTER

Pursuant to the Law on Organization of the Government dated June 19, 2015; the Law amending and supplementing a number of articles of the Law on Organization of the Government and the Law on Organization of Local Administration dated November 22, 2019;

Pursuant to the Law on the State Bank of Vietnam dated June 16, 2010;

Pursuant to the Law on Credit Institutions dated June 16, 2010; the Law Amending and Supplementing a Number of Articles of the Law on Credit Institutions dated November 20, 2017;

At the proposal of the Governor of the State Bank of Vietnam in the Document No. 77/TTr-NHNN dated September 20, 2021.

DECIDES:

Article 1. To approve the Scheme on development of non-cash payment in Vietnam during 2021 - 2025 with the following principal contents:

I. VIEWPOINTS

1. Adhering to the guidelines, orientations and policies of the Party and the Government on the development of financial and banking services, actively participating in the Fourth Industrial Revolution, digital economic development and digital transformation.

2. Promoting the principle of customer-centricity in association with the tasks of ensuring security, safety, legitimate rights and interests of customers in non-cash payment activities; customer experience enhancing and high growth in the number and value of payment transactions are the criteria for effectiveness assessment in non-cash payment activities.

3. Prioritizing the improvement of legal framework; building a digital payment ecosystem based on the connection, integration and sharing of data between payment systems and systems in other industries and fields in the economy.

4. Speeding up the innovation, cooperation, research and application of international models, achievements and experiences in the field of payment to non-cash payment activities in Vietnam.

II. OBJECTIVES

1. Overall objectives

a) To create a positive progress in non-cash payment in the national economy with high growth, make the use of non-cash payment instruments in society as a habit of people in urban areas, and gradually develop non-cash payment in rural, deep-lying and remote areas; thereby reducing cash payment-related social costs.

b) To strongly apply the achievements of the Fourth Industrial Revolution to upgrade and develop payment infrastructure and non-cash payment services, meeting the payment needs of organizations and individuals in a convenient and efficient way.

c) To ensure security, safety and confidentiality in non-cash payment activities; to improve the operational efficiency of the banking system and the management and supervision effectiveness of state management agencies, and make payment transactions transparent in the economy, thus contributing to the prevention and fight against corruption, negative practices, economic crimes, money laundering and terrorist financing.