At the press conference announcing the Vietnam Card Day 2024 event on the morning of September 26, co-organized by Tien Phong newspaper and Vietnam National Payment Corporation (NAPAS), the organizers said that at this event, the concept of Open Banking was mentioned in the context of the banking industry facing a comprehensive digital revolution, banks sharing data with third parties to bring new, superior experiences to customers.

Open banking is one of the main trends and drivers of change, promising to create a breakthrough in the provision of banking products and services.

Mr. Pham Anh Tuan - Director of Payment Department (State Bank), said that credit institutions are tending to shift from the traditional banking model to the open banking model, enhancing connectivity and integrating technology in many fields, supporting the implementation of consumer payment activities or production and business with the goal of customer-centricity.

Mr. Pham Anh Tuan, Director of Payment Department of State Bank of Vietnam.jpg
Mr. Pham Anh Tuan - Director of Payment Department, speaking at the press conference.

Vietnam Card Day 2024 targets students and young families aged 15-40, who need to use digital payment methods, online payments through Internet banking, mobile banking services of banks as well as banking services integrated on third-party platforms such as online public service platforms, e-commerce, online booking, travel services...

The future trend of banking is digital technology, with applications in payment methods such as Tap to Pay, Tap to Phone, QR code payment, e-wallet, mobile payment... and digital technologies such as electronic customer identification (eKYC)...

Journalist Phung Cong Suong, Editor-in-Chief of Tien Phong Newspaper, Co-Head of the Organizing Committee of Vietnam Card Day 2024, commented: "With the dramatic changes in all aspects of life, with the birth and influence of GPT chat, the 4.0 revolution, the banking sector is always a pioneer in raising the flag of digital transformation, making it enter life the fastest and serve people most effectively."

At the press conference, Mr. Nguyen Quang Hung - Chairman of the Board of Directors of NAPAS, informed that information and statistics through the NAPAS system showed that in the second quarter of 2024, there was a 45% growth in the number of transactions and 29% in value compared to the same period in 2023.

Of which, cash withdrawal transactions via ATM continued to decrease by 23% in quantity and 22% in value. The trend of non-cash payments increased.

“Vietnam Card Day 2024 is an opportunity for the banking industry to introduce new development trends of digital banking as well as modern banking products and services. Young people have the opportunity to access and learn about modern banking products and services, as well as improve their skills in using banking services safely and effectively,” said Mr. Hung.