In recent years, non-cash payment has become popular in Hoa Binh province. This not only helps banks get closer to their digital banking goals but also creates many conveniences for customers.

 According to the State Bank of Vietnam – Hoa Binh branch, most business and service stores in Hoa Binh city currently accept non-cash payment. Photo taken at Bao Anh store, Bac Tran Hung Dao urban area, Hoa Binh city. 

Non-cash payment helps limit the amount of cash in circulation, reduce social costs, expand space, and shorten time for the process of buying and selling goods and services. 

In the medical field, non-cash payment activities have achieved many positive results. According to a representative of the provincial General Hospital, since the beginning of this year, thousands of patients have made non-cash payments, a year-on-year increase of over 20%. This modern form of payment helps patients shorten waiting times, and reduces human resources making payments to the hospital. 

Over the past years, the State Bank of Vietnam – Hoa Binh branch (SBV Hoa Binh) has directed local credit institutions to continue implementing solutions to promote digital transformation, with focus on expanding non-cash payments. As a result, non-cash payment activities continue to achieve positive results, especially in the fields of health, education and social security. 

To date, nearly 661,000 people, equivalent to over 75% of the province’s population, have had transaction accounts at banks or other licensed organisations. The total number of ATMs in operation is 73, and the total number of point of sale (POS) machines is 492. The rates of customers paying electricity and water bills through banks are over 75% and 58.6%, respectively. And 100% of educational institutes in the province have established a non-cash tuition fee collection system; however, the collection of tuition fees without using cash has reached only 21.2%. 

According to a representative of SBV Hoa Binh, the sector continues to direct commercial banks in the locality to improve service quality and effectively operate the non-cash payment equipment system; strengthen inspections and strictly handle violations in complying with the provisions of law and the State Bank of Vietnam; upgrade infrastructure and equipment quality. It will also coordinate with local press agencies to regularly update measures to identify risks, and prevent and handle violations in cashless payment activities.

Related Topics

Hoa Binh province promotes role of working class

The working class in Vietnam in general and Hoa Binh province in particular, has made significant strides in terms of quality and making practical contributions to the country's industrialisation and modernisation process. Establishing a well-organised working class that has professional skills, firm political mettle, capable of leading the innovation process, and actively integrating into global trends of globalisation, is the responsibility of the entire Party and political system. However, there are numerous challenges that hinder the robust development of the working class.

Preferential loans yield fruits

Accessing preferential loans from the Vietnam Bank for Social Policies (VBSP), many households in Tan Lac district have escaped poverty and many students progressed on their quest for knowledge.

Collecting the “sweet fruits” from the preferential capital

The companionship of the preferential loans from the Bank for Social Policies (VBSP) has helped many households in Tan Lac district escape poverty sustainably. Along with that, the policy capital has accompanied with many students in their journey to seek knowledge until they achieve the "sweet fruits”.

Hoa Binh province gets bumper crop

In the 2023-2024 winter-spring crop, despite unfavourable weather conditions and negative impacts of market, Hoa Binh has basically achieved targets and even exceeded the yearly plan due to the fact that production direction and preparation of production material was carried out early.

Nearly 4,700 hectares of land have been consolidated in the whole province

Implementing the criteria on the form of production organization in the program for building New Rural Areas, the Party committees and the provincial authorities at all levels have strengthened the direction and implementation of land consolidation and land exchange.

Hoa Binh tightens management of planting area for agricultural product export

Management of planting area and packaging facility codes is a key point in traceability and geographical indications for a number of major agricultural products of Hoa Binh province in order to meet export conditions. Therefore, issuance of planting area codes as well as good implementation of traceability are identified by the provincial agricultural sector as an opportunity to increase competitiveness of agricultural products in both domestic and export markets.