VSS Deploys Insurance Payment on E-transaction Portal

11:26:26 AM | 27/10/2020

The Vietnam Social Security (VSS) and the Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) signed an agreement on connection of bilateral payments and cash flow management, which was officially launched and put into operation on the VSS Electronic Transaction Portal. Accordingly, starting from October 15, 2020, through the utility channel of 24/7 social insurance payment on the VSS Electronic Transaction Portal, companies can easily look up and settle monthly payment of social insurance, health insurance and unemployment insurance premiums for their employees. People can also look up and renew their health insurance policies by themselves or continue to pay voluntary social insurance for themselves and for their relatives in a quick, accurate and convenient way.

Specifically, by using utilities provided by BIDV (like BIDV SmartBanking, BIDV Online and BIDV Business Online), performing public services on the National Public Service Portal (htttps://dichvucong.gov.vn) and using 24/7 VSS Electronic Transaction Portal (https://dichvucong.baohiemxahoi.gov.vn), people can settle payment for renewing health insurance policies for their families and for voluntary social insurance. Organizations and enterprises can make monthly payment of social insurance, health insurance and unemployment insurance premiums for their employees.

Previously, VSS and BIDV successfully connected and implemented the bilateral electronic payment system on a national scale on September 1, 2019 to provide electronic collection and payment of social insurance, health insurance and unemployment insurance, thus giving modern, multi-channel payment facilities to organizations and individuals nationwide.

Thus, in addition to providing most favorable conditions for payment of social insurance, health insurance and unemployment insurance, the expansion of the VSS - BIDV bilateral payment system will further help enhance the competence of monitoring, supervising and gathering social insurance, health insurance and unemployment insurance funds quickly, accurately and effectively, helping VSS to be active with its revenue, expenditure and cash flow management. At the same time, it helps VSS meet the Prime Minister’s requirements for delivery of Level 4 online public services and non-cash payment policies of the State Bank of Vietnam.

In particular, given the complicated COVID-19 pandemic development, VSS has cooperated with BIDV and some commercial banks to bring more online payment services for organizations and individuals onto National Public Service Portal and banking transaction platforms (Internet banking, mobile banking and digital banking) to ensure safety in disease prevention. This is an important step in the cooperation program between VSS with BIDV and other commercial banks to modernize revenue and expenditure affairs at VSS, and deliver best utilities to organizations and individuals when they deal with social insurance, health insurance and unemployment insurance.

Huong Thom (Vietnam Business Forum)