Development of banking payment system in Vietnam- Current situation and solutions

Abstract

The system of payment through banks has a long history of development, with the role of management, development and pioneer of the State Bank of Vietnam In recent years, from the units of the State Bank of Vietnam (SBV) to commercial banks and related organizations, has been implementing synchronized non-cash payment solutions. This is also considered the political task of the entire banking sector, the implementation of decisions of the Prime Minister, decisions of the Governor of the State Bank, improve the competitiveness of credit institutions (CIs) in the trend of further international economic integration, join CPTPP. The paper uses qualitative methods, calculations, analyzes and assessments based on reports of the SBV, some commercial banks, Refer to some related studies for recommendations. 

The paper focuses on analyzing, assessing, clarifying the status of the formation, development and operation of banking payment systems in Vietnam over the past few years, this has included the participation of non-cash payment service providers through banks. the performance status of banking payment systems; Results of payment activity in the economy in 2014- 2017. The paper recommends 3 groups of solutions: For the Government and relevant Ministries; the State Bank and for commercial banks and payment service providers to continue to develop non-cash payment in the coming time