To promote payments via e-wallets and bank accounts in Vietnam

To promote payments via e-wallets and bank accounts in Vietnam (Internet image)

On November 25, 2022, the Prime Minister issued Directive 21/CT-TTg on promoting digital transformation in non-cash social security payments. From there, set the key tasks for implementing digital transformation, for example:

1. To promote payments via e-wallets and bank accounts in Vietnam

Specifically, assign the Ministry of Labor, War Invalids, and Social Affairs to:

- Build and complete the database on beneficiaries of social security policies; connect and share social security data with the National Population Database according to the progress of the Project to develop residential data applications, electronic identification, and authentication to serve national digital transformation in the period 2022–2025, with a vision to 2030 according to Decision 06/QD-TTg dated January 6, 2022, of the Prime Minister (referred to as Project 06).

- Preside and coordinate with the Ministry of Public Security and other ministries, branches, and unions to direct the Working Group to implement Project 06 at commune and district levels to review and compile a list of subjects by group; Check and authenticate the list of subjects with the National Population Database, which we are striving to complete in the first quarter of 2023.

- Preside and coordinate with the State Bank of Vietnam, the Ministry of Public Security and relevant agencies to promote the implementation of payments via accounts (including bank accounts, e-wallets, mobile money accounts, and other legal forms) for social security policy beneficiaries and make non-cash payments to social security policy beneficiaries right in 2022.

- Organize propaganda and guide localities to implement digital transformation within the assigned state management scope; coordinate with agencies paying for social security policies to make non-cash payments to beneficiaries of social security policies.

- Preside and coordinate with relevant agencies to develop processes and guide localities in implementing the non-cash payment task for social security policy beneficiaries.

At the same time, direct commercial banks and organizations providing payment intermediary services to research and develop support policies and incentives on payment service fees for social security policy beneficiaries when opening and using a bank account or e-wallet to receive support from the state budget.

Preside and coordinate with the Ministry of Labor, War Invalids, and Social Affairs, the Ministry of Public Security, and other relevant agencies to guide the implementation of payments via accounts for social security policy beneficiaries from the state budget.

2. Citizen management through the national database on population and eID in Vietnam

The Ministry of Public Security is responsible for performing the following tasks:

- Preside and coordinate with the Ministry of Labor, War Invalids, and Social Affairs to research and deploy software for managing citizens eligible for social security policy support from the State on the basis of the National Database on Population, Identification, and Electronic Authentication, completed in 2022.

- Preside and coordinate with relevant units to build a system to collect and update information about citizens' accounts on the population data platform, electronic identification, and authentication; connect and synchronize data with the databases of the Ministry of Labor, War Invalids, and Social Affairs and relevant units to support the implementation of social security policies.

- Verify information about beneficiaries of social security policies at the request of the Ministry of Labor, War Invalids, and Social Affairs.

- The Ministry of Public Security and the Ministry of Labor, War Invalids, and Social Affairs must urgently connect and synchronize social security data according to the roadmap of Project 06.

- Direct local police forces to coordinate with local labor agencies to review, compare, and authenticate information about social security policy beneficiaries in the area to serve the payment of non-cash social security benefits, completed in 2022.

Along with that, request the Ministry of Finance to preside and coordinate with ministries and branches to review, amend, and supplement regulations on the management, use, and settlement of social security policies and regimes suitable for digital transformation and non-cash payments.

Direct the State Treasury to upgrade online public services and instruct local State Treasury units to coordinate with social security payment agencies to implement the process of paying social security policies and benefits via accounts for social security policy beneficiaries, completed in the first quarter of 2023.

More details can be found in Directive 21/CT-TTg, dated November 25, 2022.

Nhu Mai

>> CLICK HERE TO READ THIS ARTICLE IN VIETNAMESE