In Q1 2023, the School of Public Finance held a Departmental Scientific Seminar on the topic “The Development of Payment Methods.” The seminar featured presentations by Mr. Truong Minh Tuan, M.A. and Assoc. Prof. Dr. Vu Thi Minh Hang.
Summary of Mr. Truong Minh Tuan, M.A.’s Presentation: “MOBILE PAYMENT – CURRENT STATUS OF IMPLEMENTATION AND USE OF E-WALLETS, MOBILE MONEY IN VIETNAM”
In the context of the 4.0 Industrial Revolution, e-commerce is experiencing remarkable growth. The implementation and operation of cashless payment methods will contribute to boosting transaction processes in various countries. Furthermore, with the complex developments of the COVID-19 pandemic, the use of cashless payment methods has become an urgent necessity. Mobile payments, specifically E-wallets and Mobile Money, are two prominent cashless payment types currently attracting significant attention. With over 40 non-bank enterprises licensed by the State Bank to operate as payment intermediaries, Vietnam’s mobile payment market is poised for significant development and fierce competition in the coming period. This paper delves into clarifying the advantages and limitations in the implementation, operation, and use of these methods, thereby proposing solutions to promote the development of these mobile payment types to foster comprehensive financial inclusion in rural, remote, and isolated areas of our country in the future.
Additionally, there was a presentation by Assoc. Prof. Dr. Vu Thi Minh Hang on “THE ISSUE OF INTERNATIONAL PAYMENT METHODS THROUGH PERIODS”
Currency is a means of payment that promotes the process of production and circulation of goods. From a self-sufficient economy, the world has been entering a phase of integration and development. In this context, currency is a means of strengthening international financial linkages. This paper summarizes the development of international payment methods from their rudimentary forms to international payment methods representing a region or an economic bloc, and analyzes the limitations and risks associated with the emergence of cryptocurrencies in the current digital transformation process.
The seminar was a success, featuring engaging Q&A sessions and valuable contributions from department members and the Faculty.
View the full reports here: https://drive.google.com/drive/folders/1LzMWtrkXcGasC84DrwHpKDMuqsQMdBrh?usp=sharing
