# Vietnam cashless payment and banking sector expansion > Live situation record from CLSTR: https://clstr.news/situations/vietnam-cashless-payment-expansion > Updated: 2026-08-27T09:33:03.000Z. Sources: 23. Developments: 7. Vietnam’s transition toward a cashless economy continues to accelerate, driven by significant growth in non-cash transactions and banking sector innovation. By the first half of 2026, non-cash transactions exceeded 15 billion, valued at more than 190 quadrillion VND, with daily transaction values averaging approximately 40 billion USD. This growth is increasingly facilitating the expansion of cross-border QR code payments to support tourism and international trade. Financial institutions are diversifying digital offerings and restructuring operations. MSB has launched a new generation digital banking platform for businesses utilizing Backbase technology and biometric security. ACB has received licensing to establish ACB Insurance, a non-life insurer with a 500 billion VND charter capital. Meanwhile, Saigon Commercial Bank (SCB) is undergoing restructuring, which includes the closure of 13 branches across Ho Chi Minh City and several provinces, such as Dong Thap, Can Giuoc, Vinh Long, Tien Giang, Dak Lak, and Khanh Hoa, during August 2026. Service updates and fee adjustments are also prevalent. BIDV introduced a new fee schedule for card services on August 20, 2026, while VietinBank is implementing new methods for collecting card-related fees. BVBank announced that starting August 26, 2026, individual customers will be charged a monthly account management fee of 10,000 VND (excluding VAT) if their average monthly balance falls below 500,000 VND. The sector is increasingly shifting toward integrated digital ecosystems driven by data and Artificial Intelligence (AI). According to the State Bank of Vietnam, digital integration is widespread: 66.8% of e-commerce transactions are cashless, 98.7% of enterprises utilize electronic tax payments, and 100% of urban universities collect tuition through banking systems. Cross-border QR code payments have been established between Vietnam and several nations, including Thailand, Cambodia, Laos, China, South Korea, and Singapore. While digital transformation advances, financial stability concerns are emerging. ## Claims - BVBank will implement a monthly account management fee of 10,000 VND (excluding VAT) starting August 26, 2026. (single source) - The 10,000 VND management fee is waived if the average monthly balance is 500,000 VND or higher. (single source) - New accounts are exempt from management fees for the first 180 days. (single source) - The SHB SAHA app feature ‘Sinh lời nhàn tênh’ allows idle funds to earn up to 6% interest per year. (single source) - VNPAY-QR is available at over 600,000 merchant locations across Vietnam. (single source) - Users paying with credit cards via VNPAY-QR can receive incentives or cashback of up to 20%. (single source) ## Timeline ### 2026-08-27: Vietnam banking sector shifts toward digital ecosystems and AI Vietnam's banking sector is evolving into a digital ecosystem, integrating AI and data to connect financial services with e-commerce, public services, and cross-border QR payments. 2 sources. https://clstr.news/cluster/vietnam-banking-sector-shifts-toward-digital-ecosystems-and-ai ### 2026-08-24: Vietnam banking: New fees and digital payment updates Vietnam banking updates: BVBank to introduce monthly fees for low balances starting August 2026, while SHB SAHA and VNPAY-QR roll out new interest-earning and credit-based QR payment features. 4 sources. https://clstr.news/cluster/vietnam-banking-new-fees-and-digital-payment-updates ### 2026-08-22: Vietnam banking sector undergoes restructuring and digital expansion Vietnam's banking sector sees SCB close 13 branches during restructuring, while BIDV and VietinBank update fee policies, and VIB and MSB launch new digital and credit services. 9 sources. https://clstr.news/cluster/vietnam-digital-payments-expand-as-banks-launch-new-platforms ### 2026-08-21: Vietnam develops digital infrastructure for cross-border payments Vietnam is developing digital financial infrastructure to enable seamless cross-border payments and QR code connectivity between national systems and international partners. 2 sources. https://clstr.news/cluster/vietnam-develops-digital-infrastructure-for-cross-border-payments ### 2026-08-18: Vietnam banking sector accelerates digital transformation via AI and data Vietnamese banks are accelerating digital transformation by integrating AI and big data to streamline corporate lending, enhance eKYC, and expand cross-border QR payments at the 2026 Banking Digitalization Day. 11 sources. https://clstr.news/cluster/state-bank-of-vietnam-reports-digital-transactions-exceed-95 ### 2026-08-05: Vietnam's cashless payment surge fuels tourism and consumer spending Vietnam's tourism boom and digital finance push drive a sharp rise in cashless payments, QR‑code use, and online credit‑card openings, with eKYC set to expand millions of accounts. 2 sources. https://clstr.news/cluster/vietnams-cashless-payment-surge-fuels-tourism-and-consumer-spending ### 2026-07-31: Vietnam's cashless payment push faces elderly adoption gap Vietnam’s cashless push sees rapid transaction growth, but psychological barriers keep many seniors wary of digital payments, according to RMIT research. 2 sources. https://clstr.news/cluster/vietnams-cashless-payment-push-faces-elderly-adoption-gap --- Cite as: Vietnam cashless payment and banking sector expansion. CLSTR, https://clstr.news/situations/vietnam-cashless-payment-expansion