In recent years, e-payments have become increasingly popular. — Photo courtesy of NAPAS

The National Payment Corporation of Việt Nam (NAPAS) has stepped up implementation of technical solutions to meet surging demand for e-payment transactions ahead of the upcoming Tết Lunar New Year celebrations.

In recent years, e-payment activities have skyrocketed in popularity. Statistics from NAPAS showed that e-payment transactions in January were up 5 per cent from December 2023 and were in general growing 58 per cent year-on-year. Meanwhile, ATM cash withdrawals in January were down 28 per cent from the same period the previous year.

“NAPAS has always proactively deployed and applied technical infrastructure solutions to promote our role as a payment and financial switching infrastructure provider," said General Director of NAPAS Nguyễn Quang Minh. "This contributes to the stability and development of payment activities in general and serves the payment needs of the people and supports the development of other sectors."

In the days leading up to Tết, NAPAS remains focused on improving service quality and facilitating secure and convenient e-payment transfers. NAPAS staff have arranged to be on-duty 24 hours a day throughout the Tết celebrations to support banks, payment intermediaries and businesses during what is sure to be a high-volume transaction period. — VNS