The above sharing was given by Mr. Ho Duc Phoc, Minister of Finance at the Workshop "Improving security and safety of cashless transactions" organized by the Payment Department, the Communications Department (State Bank), Tuoi Tre Newspaper in collaboration with the National Payment Joint Stock Company (Napas), the Department of Industry and Trade of Ho Chi Minh City and related units on June 14 in Ho Chi Minh City. This is an event within the framework of the program "Cashless Day 2024".

Empty warehouse, liquidation of cash transport vehicles when switching to cashless payments

According to Minister of Finance Ho Duc Phoc, in the digital age, cashless payment is an inevitable trend in international integration and production and business.

Hoducphoc
Mr. Ho Duc Phoc, Minister of Finance. Photo: Quang Dinh

Realizing the importance of non-cash payments to social life, in recent years, the Ministry of Finance has directed the General Department of Taxation, the General Department of Customs, the State Treasury and units under the Ministry to synchronously deploy many solutions to promote non-cash payments in the financial sector.

Regarding budget collection, the General Department of Taxation, the General Department of Customs and the State Treasury are constantly expanding their coordination in budget collection with commercial banks. As a result, to date, more than 99% of budget collection transactions have been carried out using non-cash payment methods.

Regarding budget expenditures, the State Treasury has completed providing level 4 online public services for all administrative procedures and integrated them into the National Public Service Portal; At the same time, it has widely deployed automatic payments for electricity, water, and telecommunications expenses according to the authorization documents of budget spending units.

To date, more than 40,000 budget-using units have authorized the State Treasury to automatically pay electricity, water, and telecommunications expenses on the online public service system with a total payment amount of more than VND 3,000 billion.

"Previously, the Treasury had a warehouse to store money and a vehicle to transport money, but now there is no cash payment, the warehouse is empty, and all the vehicles have been liquidated," said Minister Ho Duc Phoc.

Minister Ho Duc Phoc said that the continuous development of new forms and means of payment, online payment, payment via the Internet, mobile phones, etc. has helped save time and costs, ensuring transparency in payment activities to serve the daily payment needs of the whole society.

The synchronous implementation of the above solutions has brought about positive results, helping to significantly reduce the proportion of cash payments in the State budget revenue and expenditure. In 2023, the proportion of State budget revenue and expenditure by non-cash payment methods will account for 99.9% of the total budget revenue and expenditure through the State Treasury.

6 years of persistently promoting cashless payments

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Mr. Le The Chu, Editor-in-Chief of Tuoi Tre Newspaper. Photo: Quang Dinh

Mr. Le The Chu, Editor-in-Chief of Tuoi Tre Newspaper, shared that 6 years ago, the first time the Cashless Day program was organized, people did not bring cash when going to the market, using public services, eating at cheap restaurants... mostly simply because they forgot their wallets. Cashless transfers and payments were still rare and quite unfamiliar at that time.

Faced with that reality, in order to promote cashless payments, Tuoi Tre newspaper, together with the Communications Department, the Payment Department (State Bank), and Napas, decided to organize the Cashless Day program. Over the past 6 years, the parties have persistently and flexibly organized and implemented many different communication contents and activities.

In particular, Cashless Day organized 5 national workshops with different topics such as: Building and giving advice to move towards a cashless country, digital transformation towards a cashless society, connecting data to promote cashless payments...

In particular, the 2023 program has achieved many outstanding successes in terms of quantity, organization form as well as effectiveness, including a training course on cashless revenue and expenditure management skills organized for hundreds of cashiers; Launching a cashless payment code sticker campaign for thousands of payment points and a cashless festival with more than 50,000 attendees.

According to Mr. Le The Chu, up to now, many cheap restaurants and places that sell very small items also print QR codes for customers to "scan and touch". Even many motorbike taxi drivers print QR codes for customers to pay. The simple reason is because it is really convenient.

However, according to Mr. Le The Chu, along with the rapid development of cashless payments, scams and money-grabbing tricks are becoming more and more sophisticated, taking advantage of the convenience of cashless payments. The amount of damage has gone from just a few million to now in many cases reaching hundreds of billions of dong.

Therefore, along with supporting cashless payments, the desire to minimize risks and ensure better security and safety when people activate cashless payment methods after opening an account is a real need.

From the above needs, the organizers decided to choose the theme of the Cashless Day 2024 program as "Promoting the development of safe cashless transactions".