The information was released by Mr. Hoang Minh Tien - Deputy Director of the Department of Information Technology, State Bank of Vietnam (SBV) - at the press conference announcing the Digital Transformation event of the Banking sector in 2026 on August 11.
According to Mr. Hoang Minh Tien, after 5 years of implementing the Banking Industry Digital Transformation Plan according to Decision 810/QD-NHNN, many basic banking nghiệp vụ have been completely digitized. Many credit institutions in Vietnam currently have over 95% of transactions carried out through digital channels.
To date, more than 89% of Vietnamese people aged 15 and over own payment accounts.
Non-cash payments continue to grow. In the first 6 months of 2026 alone, transaction volume increased by more than 34% compared to the same period last year. The total value of non-cash payments reached more than 28 times the GDP scale.
Payment infrastructure is also continuing to be invested and expanded. The interbank electronic payment system maintains operations, while the financial switching and electronic clearing system increases connectivity with public services, health, education and transportation.
The scope of retail payment connection via QR code in Vietnam has now been expanded to some countries in the region such as Thailand, Laos, Cambodia, China, South Korea and Singapore.
Along with the infrastructure of the banking system, the digital payment ecosystem has the participation of businesses and units operating in the field of technology and payment such as Vietnam National Payment Joint Stock Company (NAPAS), MobiFone Digital Payment Joint Stock Company (MDP), FPT, MISA... Units participate in developing digital connection, payment and service solutions to serve people and businesses.
Another content that the banking industry focuses on in the digital transformation process is connecting, cleaning data and preventing fraud.
According to Mr. Hoang Minh Tien, to date, the entire industry has more than 167.8 million individual customer records and more than 2.78 million organizational customer records with payment accounts that have biometric information compared through chip-based citizen identification cards or VNeID applications.
Data comparison is expected to support credit institutions in verifying customers, limiting accounts using inaccurate information, and increasing the ability to prevent impersonation and fraud.
The information system to support management, supervision and prevention of fraudulent risks in payment activities (SIMO) has also been implemented by the SBV since 2025.
By July 2026, more than 4.6 million customers had received warnings from the system. Of which, more than 1.5 million customers temporarily stopped or canceled transactions after receiving warnings, with a total transaction value of about 5,200 billion VND.
