Tag: Vietnam Banks Association

Mr. Nguyen Quoc Hung, General Secretary of the Vietnam Banks Association, said that compared to the 2005 Law on Electronic Transactions, the draft amended Law on Electronic Transactions that the National Assembly is consulting on features many improvements. Through opinions from members, however, the Association has found that there remain certain issues that need to be considered and adjusted to make the draft more feasible.

The Vietnam Banks Association held a launch ceremony and a first conference of the Consumer Finance Club on July 14. A representative from the Shinhan Finance Company told the gathering that finance companies need a common database to implement fraud prevention measures.

According to the Vietnam Banks Association, non-cash payments are increasing and the QR code channel is posting the strongest growth, of up to 200 per cent, followed by payment via mobile phone. Banks want to allow non-authenticated payments on small items to further promote digital payments.