Buying motorbikes and cars will not be possible with cash.

Transactions in buying and selling real estate and valuable assets such as cars, motorbikes, boats... will be made with non-cash payments.

That is one of the contents and solutions mentioned in the Project on developing non-cash payments in Vietnam for the period 2016 - 2020, which has just been approved by the Prime Minister, with the goal that by 2020, the proportion of cash in total means of payment will be lower than 10%.

The master plan for e-commerce development in the 2016-2020 period sets the following goals: 100% of supermarkets, shopping centers and modern distribution facilities have card acceptance devices and allow consumers to make cashless payments when making purchases; 70% of electricity, water, telecommunications and media service providers accept bill payments from individuals and households through cashless payment methods; 50% of individuals and households in large cities use cashless payment methods in shopping and consumption.

In the near future, buying a house or car may not be possible with cash.

In addition, it is necessary to sharply increase the number of people with access to payment services, raising the proportion of people aged 15 and over with bank accounts to at least 70% by the end of 2020.

One of the solutions to achieve the above goal is to study and implement a number of administrative measures combined with economic incentives to develop electronic payments. For example, issuing mechanisms and policies on payment service fees to encourage organizations and individuals to make non-cash payments; regulating transfer payment fees and cash deposit and withdrawal fees at credit institutions and foreign bank branches in the direction of increasing cash transaction fees and reducing non-cash payment fees; reducing fees applied to inter-bank payment transactions...

The project board also reviewed, supplemented and amended documents regulating the opening and use of payment accounts; considered adding regulations requiring organizations and individuals with business activities to open payment accounts at payment service providers to make payment transactions; issued regulations requiring transactions for the purchase and sale of real estate and valuable assets (such as cars, motorbikes, boats, etc.) to make non-cash payments.

Another solution of the Project is to build and develop retail payment systems and services such as: Strengthening card payment services; building and developing an automatic electronic clearing system for retail payment transactions (ACH); perfecting the internal payment system of banks; developing electronic, non-cash payments in rural areas.

According to Vietnamnet