Vietnam's Deputy PM hails digital finance innovations at festival

Vietnam's Deputy Prime Minister Nguyễn Văn Thắng lauded advancements in digital finance at the Digital Finance Day 2026 festival, held on June 6 in Ho Chi Minh City. He highlighted how modern digital banking technologies are crucial for reducing processing times, simplifying procedures, and improving the quality of financial services for both citizens and businesses.

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Technology is playing an important role in reducing processing times, simplifying procedures, and improving the quality of financial services for people and businesses.

At the NAPAS booth, representatives demonstrated several digital payment solutions, including Tap to Phone, which transforms smartphones into payment terminals without needing dedicated POS devices. NAPAS also showcased palm-based biometric payment technology, designed to lessen reliance on physical devices, speed up transactions, and improve user experience. The organization is also expanding cross-border payment solutions to meet growing customer demand, with a visitor from China successfully completing a payment transaction at the event.

HDBank attracted attention with its wide array of digital payment products and solutions tailored for business owners and small traders. These solutions are designed to support businesses from their initial small-scale operations to larger corporate development. VPBank presented its integrated digital financial ecosystem, which combines banking, payment, and insurance services with business support solutions. This platform currently serves tens of millions of customers, offering diverse financial products and services on a single platform to enhance user experience and optimize service utilization.

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This solution is helping to reduce reliance on physical devices, shorten transaction times, and enhance user experience.

VPBank representatives noted their role as pioneers in cross-border payment services, assisting businesses with effective cash flow management. The festival also featured Sacombank, a long-time partner of "Cashless Day" events, focusing on digital payment applications in transportation. The event underscored the growing adoption and innovation in Vietnam's digital finance sector, with various institutions showcasing technologies aimed at making financial services more accessible and efficient.

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Banks are currently among the pioneers in providing cross-border payment services, supporting businesses and enterprises in managing cash flow effectively.