Millions of unverified accounts will be closed

The country currently has 10.4 million Mobile Money accounts, of which more than 72% are in rural, mountainous and remote areas.

On June 2, the Payment Department (State Bank) - Banking Times and Tuoi Tre Newspaper, in coordination with the Department of Industry and Trade of Ho Chi Minh City, the National Payment Corporation of Vietnam (Napas) announced the program Cashless Day 2025 with the theme "Cashless payment promotes digital economy ".

Mr. Pham Anh Tuan, Director of the Payment Department, said that by the end of the first quarter of 2025, non-cash payment transactions increased by 44.4% in quantity. The country currently has 10.4 million Mobile Money accounts, of which more than 72% are in rural, mountainous and remote areas. In addition, there are 30.27 million active e-wallets and 47 organizations providing wallet services.

Regarding security, the State Bank has required biometric authentication of all bank accounts. As a result, from more than 200 million accounts, only 113 million personal accounts and more than 711,000 corporate accounts are now validly authenticated. Unauthenticated accounts will be closed by September 2025 to prevent fraud and scams.

In addition, a database of suspected fraudulent accounts is being built, which has collected more than 350,000 accounts. Credit institutions are responsible for submitting information to share data, contributing to improving the effectiveness of financial crime prevention in the banking system.

Source: https://nld.com.vn/hang-trieu-tai-khoan-chua-xac-thuc-se-bi-dong-19625060221424251.htm