E-Payment in Vietnam

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E-Payment in Vietnam
E-Payment in Vietnam
Tutor: Ms. Mai Yen Nhi
Group:
Nguyen Thi Lan Anh
Nguyen Thi Huyen
Nguyen Thi Thuy
To Thi Quynh Trang

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Contents
Opportunities for e-payment in Vn
2
Nganluong.vn
4
General info
31
Challenges for e-payment in Vn
33
Recommendations
5

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General information

General information

E-payment:

Transfer $ from the buyers to the sellers through electric technology

One part of e-commerce

In VN:

E-commerce: 27.4% (2009)

E-payment: 3.2% (of 27.4% ), 96.8% of cash payment

Only 21% know about credit cards, 8% knew about the debit card and
91% know about the ATM card

> 20 million Internet users in Vietnam, only 20% have debit cards and
1% have credit cards
 E-PAYMENT WILL DEVELOP IN VIETNAM?

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Opportunities

Number of internet users increase

2003: 4% of population (3.1mil)


2009: 26% of population (22.5mil)

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Opportunities

Increase in buying and selling online

Number of commerce websites increase
•
2005: 200,000 websites
•
2009:>500,000 websites

Government policy: restrict cash pmt

Prevent the money laundering

Avoid the inflation

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Challenges

Payment habits of Vietnamese customers

Prefer cash payment


Lack of trust in online payment
 Low E-transaction security
 Limited E-payment systems

Incomplete law system of E-payment (Tax calculation)

Lack of technology & expertise
Social environment and business practices are not compatible