Non-Cash Payments: Trends in the wo

Non-Cash Payments: Trends in the world and practice in Vietnam.
Prior research on the methods of non-cash payment in Vietnam, the article generalized method of non-cash payments in the current world. Since then, a solution promoting methods of non-cash payment in Vietnam through a series of non-cash payments, to meet consumer demand.
The trend of non-cash payments
Cashless payment as a payment method goods and services generated cash transfer payments among entities. The payment method cashless world popular currently include: money order, direct debit, letters of credit, payment cards, checks and electronic money, payment by phone.

A survey by the World Bank (WB), cashless payment has become popular payment method in many developing countries around the world, including Belgium, France, Canada and worth spending people represents more than 90% of daily transactions. Meanwhile, most countries have, is implementing reforms of modern payment systems, to meet the demand for increasingly higher payments by the people.


For example, the UK has had a change in the relationship between the method of payment of the purchase transactions on the market (Figure 1). According to the British Retail Consortium, 2012, though the payment method cash proportion is still 54.4% of the total transaction, but down 3.4% compared with 2011; method debit card payments continue to be promoted at the level reached 28.2% in 2012. Notably, Paypal payment method encourages the customer to buy through online service channels and proportion This payment method has grown outperformed 2011.

In Vietnam, from 2008 to the present, services, methods of non-cash payments has been strong growth and diversification based on the application of information technology, such as internet banking, mobile banking, Wallet ... is coming to life, consistent with the trend in the payment of the regional countries and the world. According to the State Bank of Vietnam, the rate of use of cash on the total means of payment are decreasing from 20.3% in 2004, down 14% in 2010 and is about 12%. More than 65% of the units perform payroll through accounts until 2013. When non-cash payment is encouraged and included as a primary payment method in the society will bring many benefits to promote economic sustainability. It will create more transparency in expenditures and transactions of government, business entities and individuals, help the flow of currency in circulation and smooth clear.

On 27/12/2011, the Prime Minister has approved the scheme promoting non-cash payment in Vietnam in 2011-2015 with specific objectives: (i) the end of 2015, the ratio of cash in total means of payment at a lower rate of 11%; (Ii) the end of 2015, increased number of people have access to payment services, increasing the proportion of people with bank accounts up to 35-40% of the population; (Iii) implementation of the objectives of the Master Plan for development of electronic commerce in 2011 - 2015 was approved by the Prime Minister in Decision 1073 / QD-TTg dated 07/12/2010; (Iv) development of card payment services, the focus is the development of payment through POS. By 2015, the entire market has approximately 250,000 POS devices installed with the number of transactions reached 200 million transactions / year; (V) the application of some new form of payment, in accordance with the conditions and characteristics of rural, regional and remote.

By the end of the month 3/2014, there are over 15,500 automated teller machine (ATM) and over 137 700 points accepting card payments (POS) installed, up respectively 8.4% and 31.7% compared with the end of 2012.

Next, 31/12/2013, the Government issued Decree No. 222/2013 / ND-CP on cash payment. In particular, Article 6 provides businesses (companies) do not pay in cash in transactions of capital contribution and purchase, transfer of capital to enterprises; businesses are not credit institutions do not use cash when borrowing and lending to each other.

According to the central bank, as of late October 3/2014, there are over 15,500 automated teller machine (ATM) and over 137 700 points accepting card payments (POS) installed, up respectively 8.4% and 31, 7% compared with the end of 2012. In 2013, the number and value of transactions through POS in Vietnam high growth, reaching over 28 million transactions and over 120 700 billion, up 34% and respectively 26% compared with 2012.

In fact, bank cards has brought plenty of utility for users, such as transfers, payment for goods and services at POS, pay recurring charges for regular payments (electricity, water, telephone, internet), online purchases at supermarkets ...

In addition, banks are focusing on the kind of product, service, modern convenience such as electronic banking, home banking, banking services via mobile phone, for e .. . However, the proportion of cash withdrawals using ATM cards are still high, the share of non-cash transactions in total transactions stood at 3%. The main cause of this problem is due to cash usage habits of people and the limited technical infrastructure. Also have to mention one significant factor was the policy related to the charge card use. Currently, commercial banks are still applying card issuance fee is 50,000, which is attached to a series of charges to follow as transfer fees, annual fees to use the card ...

The application of transfer charges is not really sensible to encourage people to actively use the cards in the transfers. For small transactions, people can accept cash withdrawal with a lower fee to pay cash to beneficiaries. Regarding fee policy teller card, this is one of the measures to reduce the demand of the people to withdraw cash. However, this policy has not really fit with the reality of POS payment system today is still modest.

Results (English) 3:

非现金支付：在越南的世界和实践的趋势，在越南的非现金支付的方法之前的研究，本文广义的方法，在当前世界的非现金支付。自那时以来，一个解决方案，在越南的非现金支付的方法，通过一系列的非现金支付，以满足消费者的需求。