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VIETNAM'S INTER-BANKING E-PAYMENT SYSTEM ENTERS SECOND PHASE.
HANOI, March 2 Asia Pulse - The State Bank of Vietnam (SBV) on Feb. 28 launched the second phase of its inter-banking e-payment system in an effort to make the banking system meet requirements for international integration.
Part of the project to modernise banks and payment system, the second phase, beginning from mid-2005, cost $US105 million, doubling the sum spent on the first phase, which was sourced from the World Bank credit.
The second phase included five sub-projects, to which the inter-banking e-payment system played the backbone, absorbing up to $US28 million in the investment.
This is one of the major projects outlined in the national strategy for information technology development in the 2006-2010 period.
It aims to change conventional payment methods used by credit organisations, individuals and the entire banking system in order to raise the competitiveness of the banking sector in particular and the national economy in general.
Present at the ceremony, Deputy Prime Minister Nguyen Thien Nhan, who is head of the National Steering Committee for Information Technology, highlighted the inter-banking e-payment system as a visible indication of the necessity of applying new technologies, particularly banking technologies in life.
This bears practical significance ...
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