Deputy Prime Minister Le Minh Khai has urged the State Bank of Vietnam (SBV) to quickly complete and submit to the government for issuance a decree on non-cash payments and a decree providing a controlled testing mechanism, or sandbox, for fintech activities in the banking industry.

He made the instructions while addressing the Digital Transformation Day in the banking sector on May 18.

Deputy Prime Minister Khai asked the banking sector to carry out three main tasks, including building and reforming institutions, investing and developing digital infrastructure, and ensuring security and safety for banking activities as the digital transformation trend creates conditions for high-tech crimes.

In the first three months of this year, non-cash payment transactions increased 53.51 per cent in number compared to the same period of last year.

Digital Transformation Day was held to review outcomes achieved by the banking sector after two years of implementing its digital transformation plan to 2025 and vision to 2030.