Print Edition - 2018-09-26  |  Money Digest

Foreign investors target Vietnam’s e-wallet market


Sep 26, 2018-

The Vietnamese government plans to reduce cash payments to below 10 percent of the total payment transaction by 2020, and more and more foreign investors are entering this promising electronic wallet (e-wallet) market, local media reported on Tuesday. The State Bank of Vietnam, the country’s central bank, licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, daily newspaper Vietnam News reported, noting that most of the institutions have foreign investments, such as Champion Crest from China’s Hong Kong holding 51 percent of Amigo Technologies and True Money from Thailand owing 90 percent of 1Pay.   Statistics of the Vietnam Card Association shows that there are currently 132 million ATM cards issued by banks. (XINHUA)

Published: 26-09-2018 09:07

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