Spring and memories of ATM systems.

Every Lunar New Year, memories of the ATM system and the achievements in banking service development are unforgettable and a source of pride for the banking industry.

From a payment perspective, meeting the banking service needs of customers and the public, transaction demand typically increases significantly at the end of each year, linked to spending and shopping activities. Every time Tet (Lunar New Year) comes around, memories of the ATM system and the achievements in banking service development remain unforgettable and a source of pride for the industry.

This includes the successful implementation of Prime Minister 's Directive No. 20/2007/CT-TTg on salary payments via bank accounts for those receiving salaries from the state budget. ATM card services have facilitated users and become an effective communication channel, helping the banking sector implement solutions to expand cashless payments.

Initially, ATM cards were primarily used for withdrawing cash. However, the conveniences offered, such as not having to go to the bank in person and only needing to transact at ATMs, were attractive enough to encourage people to use the service, thereby contributing to the effective dissemination and implementation of Directive 20. During this period, officials, civil servants, retired employees, and workers in export processing zones and industrial parks all received their salaries through ATM accounts.

ATM services are associated with many memories in the banking industry. (Illustrative photo: Tra Giang)

However, despite the convenience of cashless payments, ATM services during the 2007-2010 period also revealed some limitations, such as overload, especially during holidays, the end of the year, and the Lunar New Year when the demand for cash withdrawals increased. These difficulties became the driving force for banks to innovate and find solutions to improve the quality of card services. This period saw the emergence of mobile ATMs, along with the strong development of POS systems – milestones associated with the process of perfecting card products and services.

These are also unforgettable images of customers and workers in industrial parks and export processing zones lining up to withdraw money, and the sense of responsibility of service providers and management agencies. To alleviate congestion during peak times of the year, in addition to expanding cashless payment options, improving customer service quality, and ensuring smooth ATM operation, credit institutions also support businesses in paying salaries directly at their workplaces during the year-end and Lunar New Year holidays.

Regulatory agencies such as the State Bank of Vietnam branches and the Management Board of Export Processing Zones and Industrial Parks are also coordinating to promote communication, strengthen inspection and supervision, and ensure the security of currency and treasury funds in order to promptly resolve difficulties, maintain stable ATM operations, and handle incidents quickly; at the same time, helping people access services conveniently and expand the use of cashless payment facilities via cards.

These were temporary issues with psychological impact, but they clearly reflected the sense of responsibility of service providers, commercial banks, and state management agencies. It was an unforgettable memory of the pressure and sense of responsibility felt during the Lunar New Year season in the past.

This also marks a milestone in the innovation and creativity of banking service development and the expansion of cashless payments. Today, the image of empty ATMs at the end of the year, in contrast to the long queues of the past, has become a source of pride, reflecting the industry's progress. Modern banking services such as virtual cards, Internet Banking, Mobile Banking, and e-wallets, with simple QR code scanning and card tapping on phones, computers, or POS terminals, have overcome the limitations of the previous era and simultaneously improved the quality of card services.

In fact, the image of empty ATMs in industrial parks such as Bien Hoa, Amata, and Nhon Trach (Dong Nai province), or Linh Trung and Tan Thuan export processing zones (Ho Chi Minh City) on the last working day before the Tet holiday shows the results of the process of improving and enhancing the quality of card services. This is evidence of the development of modern banking and the trend of expanding cashless payments in the economy .

This is the result of the convergence of innovations ranging from payment mechanisms and policies, cashless payment development plans, to the roles of each credit institution, regulatory agency, business, and citizen in the implementation process; and at the same time, it creates momentum for the next stage of development.

Source: https://thoibaonganhang.vn/mua-xuan-and-memories-about-the-atm-system-177936.html