Deputy PM: Vietnam wants to follow RoK’s cashless model

Deputy Prime Minister Vuong Dinh Hue hailed the Republic of Korea's cashless payment model, which Vietnam wants to follow, during a reception in Hanoi on Thursday for Director of Korea's Alliex Technology Company Park Byounggun.

Mr. Hue said Vietnam is embarking on cashless payment project that will standardize payment via QR codes and improving infrastructure for common points of sale. The Deputy PM said the government has directed the pilot application of new technologies in the field and urged Alliex to work closely with the State Bank of Vietnam to develop a cashless system in Vietnam.

Park said Alliex has signed a contract with Vietnam's Vietinbank and Sacombank to build infrastructure for common points of sale. The company said it intends to pour 700 million USD into Vietnam in the next five years to develop common points of sale.

Source: VOV5