Digital payment infrastructure ensures transactions.

Experts believe that cashless payments not only offer immediate convenience but also have long-term implications for national security and independence...

Overview of the seminar

People's habits are gradually changing.

At the seminar "Using Money Responsibly and Ensuring Secure Payments During Tet" organized by the Banking Times, Mr. Nguyen Hoang Long, Deputy General Director of the Vietnam National Payment Corporation (NAPAS), stated that in the past, Tet was always a "peak" period for cash withdrawals, with demand sometimes increasing 5-10 times compared to normal days. This forced banks to allocate resources to transporting and replenishing ATMs, especially in industrial zones and areas with a high concentration of workers. This pressure not only increased costs but also posed many operational risks.

In previous years, the demand for cash typically surged during the Lunar New Year holiday: withdrawing money for New Year's gifts, shopping, holiday expenses, religious ceremonies, travel, etc. The sight of people queuing in long lines at ATMs or bank counters became commonplace. However, with the development of technology and the national digital transformation process, the payment landscape during the Lunar New Year is gradually changing. Statistics from NAPAS show a clear reversal of this trend. Between 2020 and 2025, the volume of cash withdrawals at ATMs has decreased by more than half. While the decrease was only about 7-8% in 2020-2021, it reached 19% in 2022-2023, and is projected to decrease by nearly 30% in 2024-2025.

"This decline is continuous and accelerating," Mr. Nguyen Hoang Long emphasized.

Simultaneously, cashless payments have experienced explosive growth. Currently, over 40 million transactions are processed daily through the NAPAS system, with a transaction value exceeding 200 trillion VND, equivalent to approximately 9 billion USD per day. During the Lunar New Year holiday, the number of transactions increased by about 30% compared to normal days – a significant increase but without overloading the system. More importantly, this increase is stable and predictable, allowing organizations to proactively develop operational scenarios.

“Over the years, NAPAS and commercial banks have invested heavily in upgrading payment infrastructure, from switching and clearing systems to core banking. These platforms are designed with redundancy and flexible scalability, capable of handling scenarios where traffic doubles or triples during peak periods such as Tet (Lunar New Year). As a result, even with a surge in transactions, the system remains stable and no longer experiences ‘congestion’ as when relying on physical channels,” Mr. Long added.

In Hanoi , Mr. Nguyen Quoc Huy, Deputy Director of the State Bank of Vietnam's Regional Branch 1, stated that cashless payments have developed strongly in recent years, not only during Tet (Lunar New Year) but also regularly present in the daily lives of Hanoi residents. Payment infrastructure in the area continues to be invested in and upgraded comprehensively, with hundreds of thousands of POS devices and payment acceptance units.

By the end of 2025, the number of POS devices is expected to reach nearly 400,000, an increase of approximately 80,000 devices compared to the end of 2024. The number of card-accepting merchants will reach 174,862, a significant increase from 154,000 in 2024, thus better meeting the payment needs of individuals and businesses. Meanwhile, the number of ATMs continues its downward trend, reflecting a clear shift towards cashless payments. In 2025, the entire area will have 2,586 ATMs, lower than the 2,766 at the end of 2024.

One positive development noted by the leaders of the State Bank of Vietnam's Region 1 is the near disappearance of long queues of workers in industrial zones withdrawing cash after payday. This has significantly reduced the costs for commercial banks in maintaining equipment, network infrastructure, and cash replenishment personnel, even during peak periods before and during Tet (Lunar New Year). Notably, cashless payment methods such as bank transfers and QR code scanning are becoming increasingly popular, present in everything from traditional markets and small eateries to parking lots. Even parking services have implemented electronic payments, including automated fee collection systems. In many rural and mountainous areas, cashless payments are gradually becoming a habit in daily transactions.

Based on this experience, experts believe that cashless payments not only offer immediate convenience but also have long-term significance for the safety and independence of the country.

According to Mr. Nguyen Hoang Long, cashless payments are not just about convenience or cost, but also have strategic significance for national financial and monetary security. Monetary sovereignty today lies not only in physical currency, but also in digital payment infrastructure. Therefore, Vietnam's establishment of an independent national payment system connecting all domestic banks has long-term implications.

EDITOR-IN-CHIEF OF BANKING TIMES, LE THI THUY SEN:

Towards a healthy and civilized payment environment: From the perspective of a media unit in the banking industry, several issues always come to the forefront during the Lunar New Year holiday, attracting particular public attention. The most important of these is the requirement to ensure security, safety, confidentiality, and smooth operation of payment services.

In reality, during the year-end and Lunar New Year holidays, the demand for cash increases significantly, easily leading to congestion at ATMs, causing bottlenecks and potential risks. Therefore, banking institutions have been stepping up communication efforts and directly reaching out to the public, including workers in industrial zones, to encourage the use of cashless payment methods. This not only helps reduce pressure on the payment system during peak periods but also contributes to forming a habit of using modern, safe, and convenient financial services.

Regarding the issue of small denominations, new banknotes, and currency exchange during Tet (Lunar New Year), current laws have very clear regulations on protecting Vietnamese currency. Protecting the currency is not only the responsibility of the management agencies, but also the responsibility of every citizen. These regulations specify prohibited actions, such as destroying currency by burning, cutting, tearing, or using it for arbitrarily decorative purposes. In particular, it must be emphasized that the business of exchanging currency and charging fees is a violation of the law.

From a practical perspective in management and communication, the greatest value that propaganda activities bring is contributing to raising people's awareness of using money in a civilized and lawful manner. As social awareness is raised, inappropriate habits will gradually be adjusted.

Furthermore, financial education plays a fundamental role in forming civilized spending and payment habits. Globally, this field is highly valued as a crucial solution for building a modern and civilized society.

In Vietnam, the Prime Minister's approval of the National Financial Inclusion Strategy, along with projects promoting cashless payments and expanding access to financial services for the people, are concrete steps in this direction. The ultimate goal of financial education and communication remains to bring practical value to the people, while contributing to building a safe, smooth, and civilized payment environment, especially during the Lunar New Year.

Ensuring safe and smooth payments during Tet (Lunar New Year)

To ensure safe and smooth payment operations, from the beginning of the year, the State Bank of Vietnam (SBV) has proactively perfected the legal framework and issued many important documents such as Directive No. 02/CT-NHNN dated January 9, 2026 on promoting digital transformation and ensuring information security and safety in banking operations in 2026; Circular No. 77/2025/TT-NHNN amending and supplementing Circular 50/2024/TT-NHNN on safety and security in providing online banking services; and Official Letter 11241/NHNN-TT requesting credit institutions, branches of foreign banks and payment intermediaries to ensure safe and smooth payments during the year-end and Lunar New Year holidays in 2026.

On the policy implementation side, commercial banks are proactively investing in technology and improving operational capacity to meet the increased transaction demand during the Tet holiday. Mr. Tran Hoai Nam, Director of TPBank's Digital Banking Center, said that with up to 99.5% of transactions conducted through digital channels, the bank is paying special attention to preparing for the peak Tet season in a proactive, safe, and seamless 24/7 manner. Besides ensuring technological infrastructure, TPBank is also optimizing cash flow through its next-generation ATM system and applying AI to forecast cash withdrawal and deposit demand, helping to reduce operational pressure during the peak period.

In particular, given the increasing sophistication of scams, raising public awareness and vigilance is considered crucial. Mr. Nam also advised customers that when faced with urgent requests, they should calmly check and verify information; absolutely do not click on strange links, do not provide OTPs, and do not share their citizen identification numbers, phone numbers, or any personal information via text messages, calls, Zalo, or other online platforms without clearly identifying the contact person. "The principle is that the more urgent the transaction, the slower you should go," Mr. Tran Hoai Nam emphasized.

In Hanoi, Mr. Nguyen Quoc Huy, Deputy Director of the State Bank of Vietnam's Regional Branch 1, stated that in recent times, the Regional Branch 1 of the State Bank of Vietnam has proactively and comprehensively implemented many solutions to meet the increased payment demand during the Tet holiday while strongly promoting cashless payments and ensuring the safety and security of the payment system. In particular, inspection and supervision of payment and payment intermediary activities have been strengthened, contributing to rectifying discipline and improving the safety of the payment system in the capital city.

In the coming period, especially during the Lunar New Year (Year of the Horse), the State Bank of Vietnam Region 1 will continue to direct credit institutions in the area to ensure a reasonable supply of cash; and at the same time encourage people to use cashless payment methods such as bank transfers, QR codes, and electronic payments in activities such as giving lucky money at the beginning of the year and visiting temples at the beginning of the year. In addition, the State Bank of Vietnam Region 1 will continue to coordinate with local departments and agencies, especially the Department of Culture, in communication efforts to encourage the use of QR codes at religious sites and festivals, contributing to the transparency of charitable activities and building a habit of using money in a civilized, safe, and modern way in society.

However, for these policies and solutions to be truly effective, in addition to the efforts of regulatory agencies and the banking system, the awareness and behavior of the people play a crucial role. According to experts, more solutions and enhanced communication are needed to raise public awareness of using payment services proactively, civilly, and responsibly.

Source: https://thoibaonganhang.vn/ha-tang-thanh-toan-so-dam-bao-giao-dich-177717.html