Vietnam Electricity (EVN) will promote electricity bill payment via digital mode of transactions in 2019. (Photo: dantri.com.vn)
Hanoi (VNA) – Vietnam Electricity (EVN) will promote electricity billpayment via digital mode of transactions in 2019.
Aiming to double the number of customers using cashless payment, EVN’s membersare working with the People’s Committees of cities and provinces nationwide toboost electricity charge collection via automatic debt deduction, SMS & mobilebanking, internet banking and e-wallet among local agencies and state-ownedfirms.
EVN report shows that the group is managing more than 27 million customers,8.35 percent of whom work for agencies and enterprises.
Right in 2005, the group carried out cashless power collection by signingagreements with BIDV, Vietcombank, Vietinbank and Agribank.
Currently, EVN is expanding cooperation with the State Treasury, all ofcommercial banks, and many intermediaries like ECPay, Payoo, Momo, VNPay,ZaloPay, Viettel, VNPost and Napas to facilitate payment for electricity bills.
The revenue of electricity payment from this channel has climbed over years asthe number of customers going cashless rose from 14.88 percent in 2015 to 44.95percent in 2017 and 49.45 percent in 2018. By the end of May 2019, some 52.36percent of EVN customers paid power bills via banks and intermediaries.
Hanoi and Ho Chi Minh City are two localities with highest rates of cashlesspayment for electricity bills, with 81.98 percent and 91.61 percent,respectively.-VNA
Vietnam is entering the Fourth Industrial Revolution with the participation of all sectors, including the banking system; however, non-cash payment has seen development stall as the country’s population has not yet embraced its benefits.
The Vietnamese Government will continue to support and solidify legal regulations on cashless payment systems, Deputy Prime Minister Vuong Dinh Hue told Anthony Tan, CEO and co-founder of Grab – a ride-hailing platform in Southeast Asia which has been popular in Vietnam over the past five years.
An entrenched cash using habit and safety concerns are the main reasons for people not to switch to non-cash payments, a workshop heard in Ho Chi Minh City on January 15.
The State Bank of Vietnam (SBV) is working to complete the legal corridor and build rational mechanisms to boost cashless payments, which helps prevent corruption, money laundering, and tax invasion.
Policies and reality in building a cashless society in Vietnam was the theme of a workshop held in Ho Chi Minh City on June 11 by the State Bank of Vietnam (SBV) in coordination with the Ministry of Information and Communication and Tuoi Tre (Youth) newspaper.
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Vietnam Electricity (EVN) will promote electricity bill payment via digital mode of transactions in 2019.
