VTV.vn – The National Population Database has successfully cleansed data for over 3.6 million bank accounts and verified information through the national ID system for 39 million accounts.

This information was announced during the “Hanoi – Smart City and Open Banking Ecosystem” workshop held on October 2. According to representatives from the Ministry of Public Security and the State Bank of Vietnam, account verification is a crucial foundation for ensuring the safety of financial transactions within the smart city model that Hanoi is aiming for.

In the context of the growing popularity of cashless payments, smartphones are becoming essential tools for daily transactions. Last year alone, more than 62 million QR codes were used, a tenfold increase compared to the previous year. Meanwhile, the number of ATM transactions dropped by over 13%, indicating a significant shift from cash to electronic payment methods.

Banks are now developing open banking ecosystems, allowing payment integration into various daily activities such as dining, shopping, commuting, and paying for public services. This ecosystem promises to provide more convenience for users while promoting the growth of the digital economy.

A representative from the Hanoi Traffic Management and Operations Center also announced that the city is integrating dynamic QR codes into transportation cards, turning them into virtual cards to facilitate smoother travel for residents.

The State Bank of Vietnam has issued Decree 52 on cashless payments and plans to issue additional detailed guidelines on open banking and Open API by the end of this year. At the same time, the State Bank is drafting a decree on a controlled testing mechanism in the banking sector to enhance security and safety for payment and banking transactions.