This is the opinion given by Mr. Le Anh Dung, Deputy Director of the Payment Department, State Bank, at the press conference of the event "Cashless Day 2024" organized by Tuoi Tre Newspaper in coordination with the Payment Department, State Bank on the afternoon of May 28.
Mr. Dung said that by the end of 2023, Vietnam will have more than 182 million personal payment accounts and 87.08% of adults will own a payment account. More than 147 million bank cards are in circulation and 32.77 million e-wallets are in operation.
The average number of payment transactions via internet and mobile channels in the period 2021-2023 increased by 52% and 103.3% respectively; the growth in the number and value of payments via QR Code reached more than 170%. Regarding account opening via eKYC, 40 banks reported that they have officially deployed it with nearly 35 million active payment accounts opened using eKYC.
"Cashless Day 2024" with the theme "Promoting the development of safe cashless payments"
According to the reporter of Nguoi Lao Dong Newspaper , along with the growth rate of cashless payment channels, the fraud of financial technology crimes has been continuously increasing in recent times. According to experts, fraudsters often attack the weakest point in the payment value chain, which is the user - a non-technical factor, while hackers find it very difficult to penetrate the system. This requires raising awareness of users when making cashless payments and the responsibility of service provision channels.
According to Mr. Le Anh Dung, to ensure safety and network security for payment activities, the State Bank has regularly issued documents directing the entire industry to strengthen the security and safety of payment activities; requiring credit institutions and payment intermediaries to review internal procedures and regulations.
The State Bank has been actively coordinating with the Ministry of Public Security to deploy Project 06 on population data applications to serve data cleaning, verify customer information through chip-based citizen identification cards, VneID accounts and support in providing banking products and services.
Mr. Le Anh Dung, Deputy Director of the Payment Department of the State Bank of Vietnam, participated in the cashless payment experience at Vincom Dong Khoi shopping center (HCMC) - Photo: Q. DINH
Most recently, from July 1, Decision No. 2345/QD-NHNN on implementing safety and security solutions in online payments and bank card payments of the State Bank will take effect. The decision clearly states that money transfers over VND 10 million must be authenticated by face; total transactions over VND 20 million/day must be authenticated by biometrics (can use chip-embedded ID card, VNeID account or biometric data stored in the bank's database).
"This is a strong authentication solution to help protect customers, which also protects banks and electronic payment methods. Decision 2345 will fundamentally address fraud, unregistered accounts, lending, leasing; prevent money transfers and prevent dirty money flows" - Mr. Le Anh Dung affirmed.
On the commercial bank side, Mr. Tu Tien Phat, General Director of Asia Commercial Bank (ACB), said that ACB is investing in the final stage, and is expected to start notifying customers to register for biometric authentication in June 2024. When deployed, customers' cashless payment experience will not be affected, security will be improved and it will be more beneficial for users.
As reported by Nguoi Lao Dong Newspaper , many commercial banks such as TPBank, BIDV, Techcombank, OCB... are currently collecting customers' biometric data, preparing for the official application milestone from July 1.
Source: https://nld.com.vn/chuyen-tien-tren-10-trieu-dong-phai-xac-thuc-khuon-mat-de-tranh-bi-lua-dao-196240528174603094.htm
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