Transport sector targets cashless transactions by 2030
All of the transactions in the transport sector will be cashless by 2030, as part of a programme on digital transformation recently approved by the Ministry of Transport.
Hanoi (VNA) – All of the transactions inthe transport sector will be cashless by 2030, as part of a programme ondigital transformation recently approved by the Ministry of Transport.
The programme will be rolled out in the sector fromnow till 2025, with a vision toward 2030.
By 2025, the sector expects to form its own database,and the settlement of all administrative procedures under the management of theministry will be monitored via the public service portal and one-stop-shopsystem.
The sector also aims to automate procedures relatingto registration, check-up and supervision of businesses, vehicles and drivers.
By that time, the intelligent transportation system(ITS) will be installed on all expressways. Meanwhile, the electronic toll collection (ETC) system will be implemented at all toll collection pointsnationwide.
By 2030, the sector will continue to perfect thedatabase and roll out the smart transport system across the country.
Transport infrastructure in road, railway, navigation,aviation and internal waterway will be connected synchronously./.
The State Bank of Vietnam is drafting a circular regarding cashless payments which might allow domestic commercial banks and domestic intermediary payment companies to co-operate with foreign intermediary payment companies to provide international payment services.
Over the past years, the Vietnamese Government has kept promoting non-cash payment with domestic or international credit cards and debit cards such as Mastercard, and launched e-wallet models.
The novel coronavirus outbreak has changed the payment habit in Vietnam, with non-cash transactions particularly surging in the public service, Director of the State Bank of Vietnam’s Payment Department Pham Tien Dung said on December 4.
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