The central city and Viet Nam Bank for Industry and Trade (Vietinbank) inked an agreement on online payment service in the city’s e-Government system (egov.danang.gov.vn) on Tuesday, marking further progress towards promoting cashless transactions in the community.

General director of Vietinbank Le Duc Tho said the agreement was part of a long period of positive co-operation with Da Nang City. He said he hoped that the bank and the city would promote more online payment services in developing Da Nang as a ‘smart city’ in the future.

As planned, local residents, businesses and organisations could pay all public fees and charges via an online payment service at egov.danang.gov.vn.

The city also launched the online payment portal egov.danang.gov.vn for official transactions on Tuesday.

At the Da Nang Investment Forum, Vietinbank committed to provide VND3.5 trillion (US$155 million) loans for four key investment projects in beach resort, residential zones, medicine production and the Hai Van Tunnel expansion projects in Da Nang City.

In 2015, Vietinbank also agreed to a five-year credit co-operation to provide loans for projects and investors operating at Chu Lai Open Economic Zone in Quang Nam Province.

The State-owned bank has opened 155 branches in the domestic market with more than 1,000 transaction sites. — VNS