Improving non-cash payment in debt collection at Vietnam Bank for Social Policies

Abstract

The article analyzed the current status of non-cash payment at the Vietnam Bank for Social Policies (VBSP) through analyzing survey data from 2.243 subjects at 20 branches of VBSP and data from the information reporting system of VBSP in the period 2022-2024. Using descriptive statistical research methods, the results showed that the ratio of debt transaction using non-cash payment method tends to increase every year, but still uses a low ratio in the total transaction value. The main reasons come from the lack of guidance documents on automatic debt collection from accounts, limitations in the information technology system, customer communication, and characteristics of customers. From there, the article proposes 03 main groups of solutions: Amending regulations on deposit accounts of group members; building IT software; additional support solution.