The State Bank of Viet Nam said Saturday that as of December 21, credit expanded 10.14% as compared with the end of 2019. 

Mobile payments surged by 123.9% in transactions and 125.4% in value against the same period last year, said the central bank.

By the end of October, the number of online transactions reached nearly 347 million worth VND22.2 

It was forecast that mobile transactions in Viet Nam will surge 400% over the next five years with fintech and banking sectors actively expanding such services.

Viet Nam has been promoting electronic payments since 2008 as only about 40% of the country's population have bank accounts, mostly in urban areas, while there are around 120 million mobile phone subscriptions, and the telecoms network covers the entire country.