By the end of 2020, all commercial banks are required to meet Basel II standards, a condition for local lenders to expand their respective credit growth limit and increase registered capital.

Over 50% of the Vietnamese population does not have a payment account at banks, therefore, mobile money would offer a non-cash payment method for a large base of customers.

The banking authority has worked with relevant ministries and branches in launching direct carrier billing service.

Hanoi and Ho Chi Minh City would make up half of the country’s e-commerce revenues in the next five years.

Cash has constituted 11.3% of total means of payment as of December 31, 2019.