THE STATUS QUO OF CARD PAYMENT ACTIVITIES THROUGH POINTS OF SALE (POS) IN VIETNAM IN THE PERIOD 2014-2015

Abstract

Card payment is a major method of payment in developed countries, whereby payment for goods and services through POS brings numerous benefits for people involved. In Vietnam, in the period 2013 - 2015, payment through POS also resulted in significant growth with increases in payment revenue through POS, number of ATMs and POS/EDC as well as the number of transactions and transactional values via POS. However, the POS growth rate was still slow; payment operations through POS also showed low efficiency. Therefore, appropriate measures should be taken to promote cashless payment in order to boost the development of payment activities through POS in Vietnam.