Forum on developing electronic payment ecosystem 2019 “Moving with chip technology”

On December 10, 2019 in Hanoi, Vietnam Economic Times, Vietnam National Payment Company (NAPAS) and the Payment Department – The State Bank chaired the organization of the Forum on payment ecosystem development. Electronic 2019 with the theme “Motion with CHIP technology” (EPF 2019). Deputy Prime Minister Vu Duc Dam, Deputy Minister of Health Truong Quoc Cuong, Deputy Governor of the State Bank Nguyen Kim Anh and GS. Dao Nguyen Cat, Chief Editor of Vietnam Economic Times attended and chaired the Forum.

Recognizing the practicality and efficiency brought about by the application of CHIP technology for the development of economic industries and daily necessities of human life, the EPF Forum 2019 continues to address and discuss issues. strategies and practices related to conversion of CHIP cards of banks, the application of CHIP cards to sectors / fields in socio-economic life, contributing to changing behavior, consumer habits use on non-cash payment and especially develop payment on the infrastructure to accept contactless, promoting other forms of electronic payment.
At the Forum, Deputy Governor of the State Bank Nguyen Kim Anh emphasized a number of orientations that the banking industry should focus on in the coming time: “Enhancing exchanges and coordination to promote the Vietnamese card industry in the trend. the general position of the world and ensure security, safety and sustainable development; actively contributing to the development of electronic payment in residential areas, timely application of progressive achievements of Industry 4.0 in payment activities of the banking industry; help bring people more convenience and trust thanks to safer, more secure card payment transactions, creating favorable conditions for banks to develop new and modern payment features; opening up opportunities for domestic cards to expand connectivity and international integration ”.
The forum was also honored to welcome the Deputy Prime Minister Vu Duc Dam’s direction on the urgency of domestic conversion of chip cards, the coordination of ministries / sectors in promoting cashless payment. in the sectors / fields, the social responsibility of banks and businesses in expanding the network of chip card acceptance, actively implementing the conversion in accordance with the SBV’s schedule so that Vietnam can catch up with general trend of the world, taking advantage of the development of digital economy to promote electronic payment and aiming at the goal that most Vietnamese people use chip cards in payment of life’s needs.
Within the framework of EPF 2019, the signing ceremony of a Memorandum of Understanding to promote non-cash payments between the State Bank and the Ministry of Health took place; between Petrolimex and NAPAS; between K Hospital / Hanoi Medical University Hospital, Vietcombank / Vietinbank and NAPAS.
Besides, the Forum also listened to the presentation of representatives from the Ministry of Health on the cashless payment strategy of the health sector; discussion contents of speakers from international organizations MasterCard, Visa, APSCA; PayNet domestic card organization of Malaysia; representatives of banks and SBV Payment Department. The discussion focused on the direction of Deputy Governor Nguyen Kim Anh at the Forum to provide (i) trends, lessons learned on the conversion of domestic chip cards in countries in the region and international; (ii) coordination between the banking industry and stakeholders to accelerate the conversion of domestic chip cards according to the schedule issued by the State Bank; (iii) the role of bank cards in the electronic payment ecosystem, contributing to promoting GDP growth; (iv) the coordination of ministries / sectors to promote the application of chip technology in socio-economic activities.

Summarizing the discussion and discussion session, Ms. Nguyen Tu Anh – NAPAS Chairman of the Board of Directors on behalf of the Organizing Committee summarized some suggestions and solutions to promote the conversion of Chip cards of the whole market in particular and development. Electronic payment ecosystem is generally stated by the parties at the Forum, specifically:
 Strengthen the coordination between the State Bank and ministries in developing mechanisms and policies to create favorable conditions for effective implementation of e-payment in economic fields.
 Standardize technical infrastructure, standardize user data of beneficiaries such as transportation, hospitals, healthcare and education so that it can integrate many uses on the CHIP bank card. Serving essential payment activities in people’s lives.
 Consider using the CHIP technology standard of bank cards for application in medical, insurance, transportation and other economic sectors.
 Promote contactless payment applications in industries that serve the essential needs of people such as gasoline, retail, electricity, water, supermarkets ….
 Consider providing policies to promote contactless deployment, creating a basis for CHIP card acceptance on mobile phones.
Attending EPF Forum 2019, there were more than 350 delegates from domestic and foreign commercial banks, technology companies, hospitals, domestic and international experts in the fields of economics and banking. goods, technology 4.0, financial technology, payment, card production and issuance … internationally and Vietnam.
As a press and media organization in co-organizing the EPF 2019 Forum, Professor Dao Nguyen Cat, Vice President of Vietnam Economic Science Association, Editor-in-chief of Vietnam Economic Times, said, EPF 2019 Forum has really become a space for participants to discuss and agree on solutions to promote e-payment / cashless payments for the whole market; Update on the new trend of electronic payment in the world and suggestions for Vietnam market.
Contributing to the successful organization of the 2019 Electronic Payment Ecosystem Development Forum, the Organizing Committee would like to thank the Enterprise organizations for their support, support and funding for the Program. Sincerely thanks to the State Bank Payment Department, Vietnam National Payment Joint Stock Company, Vietinbank, Vietcombank, BIDV, LienVietPostBank, ABBank, HDBank, ACB, Shinhan Bank, Sacombank, VISA, Sao Thai Duong Joint Stock Company … has accompanied and supported the organization of the Forum.
The EPF 2019 forum was broadcast live on VnEconomy.vn and Fanpage VnEconomy.
(Source: Napas)