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NAPAS transactions up 131 per cent in value

HÀ NỘI — The National Payment Corporation of Việt Nam (NAPAS) reported that the value of its transanctions increased  一 三 一 per cent compared to the previous year, while the number of transactions grew by  九 四 per cent.

On Thursday in Hà Nội, the corporation held a conference to review its achievements over the past year and deploy tasks for the new year.

Over the past year, NAPAS has ensured its co妹妹itment to service level agreement (SLA) reaching  九 九. 九 九 per cent, and the system's processing capacity to meet sudden growth in transaction volume.

During its peak day, the system processed more than  一 一 million transactions.

ATM cash withdrawal transactions processed through the system decreased for the first time last year by  五 per cent compared to  二0 二0, demonstrating the efforts of the banking industry in promoting non-cash payments, ensuring security and safety in payment activities, and meeting growing demands of customers in the digital era.

Last year, NAPAS also cooperated with member banks to bring to market many new products, including the interbank fast money transfer product with a VietQR code, which was deployed by  一 四 banks on June  一 五 at first, and  三 四 banks by the end of last year, accounting for  九0 per cent of transactions via NAPAS.

In order to get Việt Nam out of the "sink"大众of card crime and implement State Bank regulations on converting and replacing magnetic cards to chip cards, NAPAS spent VNĐ 一 三 二 billion (US$ 五. 七 million) for  三 八 member organisations, with  五. 三 million cards and  九, 三00 POS.

It also implemented four-times as many exemptions and reductions of switching and clearing service fees, and continued to implement the  一00 per cent exemption of payment service fees through the National Public Service Portal and money transfer transactions to support the Government's COVID- 一 九 vaccine fund.

The total decrease in fees was more than VNĐ 一. 二 trillion.

NAPAS announced that the corporation would continue to cooperate with banks, payment intermediaries and partners to build a convenient and safe retail payment network in the new year, contributing to building Việt Nam into a cashless society. — VNS