State Bank of Vietnam sets 2025-2027 priorities for its Payment Department including stronger oversight of payment systems and SIMO deployment

The State Bank of Vietnam reported that the Party cell of its Payment Department held its 2025-2027 term congress, elected a new executive committee, and received policy and supervisory priorities from Deputy Governor Pham Tien Dung focused on cashless payments, digital banking and payment-system safety. The congress reviewed 2022-2025 work, including contributions to the legal and policy framework for payments and digital banking, delivery of cashless payment and banking-sector digital transformation programmes, and strengthened inspection and supervision of payment activities and payment intermediary service providers. For the new term, the Deputy Governor set three key tasks: further review and complete the legal and policy framework to promote cashless payments and digital banking while ensuring security and safety; implement the coordination plan with the Ministry of Public Security for Project 06 on population data, electronic identification and authentication and roll out the Strategy for the Development of Payment Systems in Vietnam to 2030; and increase supervision of important payment systems and payment intermediary services, including rapid coordination with the Information Technology Department to complete and operationalise components of the State Bank of Vietnam’s SIMO information system to support supervision and payment-fraud risk prevention. Following the congress, the new executive committee is expected to finalise its working rules, term work programme and internal task allocation and incorporate the Deputy Governor’s directions into its 2025-2027 action plan.