Credit card transactions on the rise in Vietnam: central bank

Thanh Nien News

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More than 28 million transactions were conducted via credit card in Vietnam last year, up 34 percent year on year, an official with the central bank announced Thursday.
The transactions were worth over VND120.7 trillion, an increase of 26 percent from the year before, Le Van Tuyen, chief of the State Bank of Vietnam’s transaction development division, announced at a recent conference in Hanoi.
According to bank statistics, the number of people using e-payment services also strongly increased, up 83 percent year on year.
Tuyen attributed the increases to a “positive change” in Vietnamese people’s awareness of credit cards, noting that cards are getting more popular in big cities where relevant infrastructures has continuously improved.
More than 68.5 million cards have been issued in Vietnam.
As of March, Vietnam is home to over 15,500 ATMs and over 137,700 point-of-sale machines (POS), up 8.4 and 31.7 percent from 2012.
Vietnam plans to increase the number of POS machines to 250,000 and the number of transactions via POS to some 80 million per year by 2015, Tuyen said.

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