The State Bank of Vietnam said Deputy Governor Nguyen Ngoc Canh met Mastercard Asia Pacific President Richard Wormald and used the meeting to set out the central bank's priorities for expanding non-cash and digital payments. These include continued digital transformation in the banking sector, development of national digital payment infrastructure, and further cooperation with banks, businesses, card issuers and card payment organisations in Vietnam on a compliant basis under Vietnamese law. Mastercard said it would step up cooperation and investment in Vietnam, particularly with banks and small and medium-sized enterprises, while sharing international experience and offering solutions to improve security and prevent fraud, scam transactions and fake accounts in electronic payments. The State Bank of Vietnam's priorities include reviewing and completing the legal and policy framework for non-cash payments, upgrading the national payment system, financial switching and electronic clearing systems and banks' digital ecosystems to support safe and interoperable processing, applying new technology to payment products and services, expanding bilateral QR code payment links with other countries, and promoting electronic payments across government services, public administration, healthcare, education, tourism and state budget collection.
State Bank of Vietnam 2026-05-07
State Bank of Vietnam outlines digital payments agenda and seeks continued Mastercard cooperation
The State Bank of Vietnam met with Mastercard to expand non-cash and digital payments, focusing on digital transformation, national payment infrastructure, and completing the legal framework. The bank plans to upgrade payment, financial switching and clearing systems, enhance interoperability, expand bilateral QR code links, and promote e-payments in key public sectors. Mastercard will boost cooperation and investment in Vietnam, especially with banks and SMEs, and provide security and fraud prevention solutions.