Central bank plans to upgrade direct credit payment system
25/02/2009 08:57 am
Laws - Banking’s direct credit payment system for salaries and wages is to be improved to bring more customers on line by next year.
The State Bank of Viet Nam has said the quality will be improved to ensure the stability and effectiveness of the system.
Direct credit is a secure and reliable way to make payments by electronic transfer directly into a bank accounts.
The system is mainly used for paying wages and salaries. However it can also be used for supplier payments, pensions, employee expenses, insurance settlements, dividends and refunds.
Central bank payments department head Bui Quang Tien says a single switching centre and legal framework are being set up for the system but the direct credit service would only be available at places where providers are able to meet the demand.
Automatic teller machines, bank cards and customer care services will be upgraded to support the system while supervision and inspection tightened.
Also, service providers would be required to publicly apologise customers if they make mistakes or violate regulations to provide them with timely and complete information to customers.
The State Bank of Viet Nam has said the quality will be improved to ensure the stability and effectiveness of the system.
Direct credit is a secure and reliable way to make payments by electronic transfer directly into a bank accounts.
The system is mainly used for paying wages and salaries. However it can also be used for supplier payments, pensions, employee expenses, insurance settlements, dividends and refunds.
Central bank payments department head Bui Quang Tien says a single switching centre and legal framework are being set up for the system but the direct credit service would only be available at places where providers are able to meet the demand.
Automatic teller machines, bank cards and customer care services will be upgraded to support the system while supervision and inspection tightened.
Also, service providers would be required to publicly apologise customers if they make mistakes or violate regulations to provide them with timely and complete information to customers.
Source: Vietnam News
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