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Tiếng Việt

At present, payment transactions in Vietnam are processed through several payment systems: (i) the payment system operated and managed by the SBV including electronic/paper clearance and interbank electronic payment systems; (ii) the bank card switching and clearing system; (iii) the securities clearing and settlement system; and (iv) the internal and bilateral payment systems operated and managed by the credit institutions.

The international payment transactions processed through international SWIFT and WESTERN UNION remittance services which are provided by the credit institutions directly cooperating with international payment service providers. Since 2007, the Joint stock Commercial Bank for Foreign trade of Vietnam (Vietcombank) has been appointed by the SBV as a clearing bank for Visa card transactions of domestic Visa member credit institutions via their accounts opened with VCB. VCB also provides payment services for Visa card transactions in domestic market. From 2012, the Joint Stock Commercial Bank forInvestment and Development of Vietnam (BIDV) has been appointed as the clearing and settling agent for Master card domestic transactions.

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