Ton Duc Thang University and Vietnam Banking Association organized a conference "Mobile payment in Vietnam - Challenges and prospects"

On the morning of July 28th, 2020, Ton Duc Thang University (Faculty of Finance and Banking and the Center of Applied Economic Research and Training) coordinated with the Vietnam Banking Association (Representative Office in Ho Chi Minh City) co-organized the seminar "Mobile payment in Vietnam - Challenges and prospects".

The seminar attracted the participation of officials, lecturers, scientists, speakers, experts, leaders and managers from Ton Duc Thang University and Ho Chi Minh City, Open University, Banking University (HCM), Smart Train Training Organization, Sacombank, PVcomBank, Orient Commercial Bank (OCB), Kien Long Bank, Home Credit Vietnam, VNDirect Securities Company, Manulife Insurance Company ...

At 8:30 AM: Dr. Nghiem Quy Hao - Director of Center of Investment Research and Development of Economics gave a welcome speech at the beginning of the workshop.

At 8:40 AM: Dr. Le Thi Kim Xuan - Head of Representative Office of Vietnam Banking Association in Ho Chi Minh City gave an opening speech.

Speaking at the Conference, Dr. Nghiem Quy Hao, Director of Center of Research and Applied Economics of Economics and Training, Ton Duc Thang University, Chairman of the Conference Organizing Committee, said: “The workshop is in response to the Government's policy on giving pilot deployment of using telecommunications accounts to pay for small-value goods and services (referred to as Mobile Money) and create conditions for lecturers and scientists in banking and finance industry to meet , exchange, listen, receive opinions, update and discuss with experts, scientists, entrepreneurs in the field of digital payment, mobile payment about opportunities, challenges and trends , as well as the necessary actions in this context.”

Dr. Le Thi Kim Xuan, Head of Representative Office of Banking Association in Ho Chi Minh City, in the opening speech provided information: “Vietnam has now become the second most developed internet economy in the East-South Asia, just after Indonesia. Particularly in the first quarter of 2020, mobile payment has increased by 188.7% in volume, up 146% in value over the same period in 2019. Currently the infrastructure for digital payment, mobile payment in Vietnam completed at a quite high level, with 78 internet banking, 49 mobile banking services ... showing that digital banking is the inevitable trend.”

The seminar listened to in-depth speeches from lecturers of Faculty of Finance and Banking of Ton Duc Thang University, such as "Overview of the situation of mobile payment - Mobile Money in the world" (Dr. Phung Quang Hung), "Analysis of factors influencing the trend of using digital payment - Evidence in Africa" (Dr. Ho Thanh Tung - Dr. Duong Dang Khoa); "Mobile payment - Lessons learned from China" (Mr. Luong Kim Long) ... The reports have provided an overview but are also very detailed and especially important from the practice of mobile payment operations in some of these countries and around the world.

Presenting and contributing ideas from the practice of mobile payment in its business activities, speakers from PVcomBank (Mr. Nguyen Minh Duc - Deputy Director of HCM Branch), Home Credit (Ms. Luc Kim Thanh - Head of Digital Partnership), Sacombank (Mr. Pham Duc Duy - Director of Card Center), OCB (Mr. Nguyen Hong Minh - Director of Tan Thuan Branch), Kien Long Bank (Dr. Le Ba Truc – Manager of Training Center) ... gave the seminar vivid evidence of the impressive growth of digital payment and mobile payment services. In particular, mobile payment services have provided users with interesting and convenient payment through shopping, and consumption experiences, and helped banks and financial institutions attract more customers, expanding payment channels, serving a large number of customers, especially customers in remote areas ... Besides, the speakers also pointed out the challenges of safety, monetary security, challenges on the legal framework, information security issues, cross-border transactions, crime, money laundering ... The speech also highly appreciated the timely organization of the Seminar which aims to popularize, educate students in finance and banking on the situation of digital payment, especially the preparation not only of knowledge, but also about operating skills and technology in the context of digital transformation and 4.0 technology revolution. Dr. Le Thi Kim Xuan said that the Workshop was an opportunity to exchange, discuss, useful information and provide practical recommendations and proposals to the concerned state management agencies, with solutions, timely and appropriate policies.