Approving project to develop non-cash payment to 2025

  The overall objective of the Project is to create a positive change in the "non-cash payment" in the economy with high growth, making the use of non-cash payment methods in urban areas and gradually developing in rural, deep-lying and remote areas; reduce the social costs associated with cash.

Along with that, strong application of the achievements of Industrial Revolution 4.0 to upgrade and develop payment infrastructure and non-cash payment services, meeting payment needs in a convenient and efficient way results of organizations and individuals.

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Ensuring security, safety and confidentiality in non-cash payment activities; improving the operational efficiency of the banking system and the management and supervision efficiency of State management agencies, making payment transactions transparent in the economy, contribuiting to the prevention and fight against corruption, negativeness, economic crimes, prevention and combat of money laundering, terrorist financing.

According to the Scheme, specific goals by the end of 2025 are as follows:

- Non-cash payment value is 25 times higher than GDP.

- 50% Non-cash payment in e-commerce.

- 80% of people aged 15 and over have a transaction account at a bank or other authorized organization

- Increase people's access to payment services; increase the number of points accepting cashless payments to over 450,000 points.

- Targets for growth in the use of non-cash payment means and services:

+ The average growth rate in the number and value of non-cash payment transactions reaches 20 - 25%/year;

+ The average growth rate in the number of transactions via the mobile phone channel reaches 50 - 80%/year and the transaction value reaches 80 - 100%/year;

+ The average growth rate of the number and value of transactions via the Internet channel reaches 35 - 40%/year;

+ The rate of individuals and organizations using non-cash payment means through electronic payment channels reaches 40%.

- Objectives of non-cash payment for public services:

+ From 90 - 100% of educational institutions in urban areas accept payment of tuition fees by non-cash payment methods; from 90 - 100% of universities and colleges in urban areas deploy online tuition payment on the National Public Service portal;

+ 60% of medical examination and treatment establishments in urban areas accept payment for medical services by non-cash payment methods;

+ 60% of people receiving pensions, social insurance benefits and unemployment benefits on the map are paid through non-cash payment methods.

This Decision takes effect on the date of its signing.