An Economist Intelligence study shows Vietnam’s strong commitment in creating a policy environment that helps support e-payment adoption.
2011 Government E-Payments Adoption Ranking (GEAR) study just published measures of the extent to which governments in 62 countries provide e-payment services and the underlying factors that affect government e-payment adoption. It tracks and highlights the diversity of government e-payment systems already in place, as well as the abundant opportunities available to governments for improving e-payment services.
“It is encouraging that governments are expanding their use of electronic payments. This study indicates that governments in Vietnam and the region are seeing the benefits, and this will help us to continue to build infrastructure and deploy electronic payment products and services tailored to their specific priorities,” said Elizabeth Buse, Group President of Visa, Asia Pacific, Central Europe, Middle East and Africa (APCEMEA).
“As technological advances create new opportunities, Visa will continue to promote the development of electronic payment programs that are secure, affordable and convenient for users in Vietnam and elsewhere.”
“We have seen the Vietnamese government’s effort in creating a policy environment that helps to support e-payment adoption. Proof is shown in the positive trend of policy content, including government commitment to e-payment security and to integrate the informal economy. With our international experience and expertise in the payment industry, Visa also looks forward to joining hands with the Vietnam government to deploy a sustainable payment platform and utilize the best of e-payment’s benefits,” said Ms Lorijon Bacchi, Country Manager of Visa in Vietnam, Laos and Cambodia.
The EIU defines e-payments in the study as the exchange or transfer of funds over an electronic platform with various means such as a payment card, direct deposit, direct debit, electronic funds transfer, or wire transfer.
There are still gains to be made, particularly for obtaining/paying for an ID card, requesting unemployment, workers’ compensation and welfare benefits, and disbursement of loans to businesses.
The report also shows that infrastructure plays a significant role in e-payment adoption. More than half the countries have developed 3G and other mobile phone technologies, including 4G. The number of mobile phone subscriptions has soared and the diffusion of broadband has grown swiftly.
Thus, instilling trust in e-payments needs to be a top priority for governments. For years, trust has been a key barrier for citizen adoption of government e-payments. This challenge is slowly being overcome by the roll-out of new and improved e-payment security systems and government enforcement mechanisms. More than one-third of the 62 countries in the 2011 GEAR study received the highest possible score for their efforts to promote e-payment security.
The GEAR study also looks to the future, noting that as governments work toward adopting and improving e-payment services, their strategies will almost undoubtedly reflect each country’s unique infrastructure and social, economic and policy context. No single approach to government e-payments adoption is universal.
Thu Huyen
Vietnamese
