SBV to promote non-cash payments

The State Bank of Vietnam (SBV) has said it will introduce five groups of solutions to further promote non-cash payments. Notable solutions include perfecting the legal framework, amending and supplementing a number of laws and decrees related to banking activities; building and promulgating a mechanism for the controlled testing of fintech activities in the banking sector; developing modern payment services; and developing infrastructure, upgrading the inter-bank electronic payment system.