Banks of Vietnam, China Offer Cross-border E-payment
The Industrial and Commercial Bank of Vietnam (Incombank) and the Industrial and Commercial Bank of China (ICBC) have joined hands to launch cross-border payments through Internet Banking system.
This is the first and most modern product of cross-border payments applied in Vietnam.
Internet banking system, in which payments will be conducted immediately via the same network, will help save time and money for customers of two banks in conducting cross-border payments.
The new payment method is expected to boost two-way trade between Vietnam and China in the near future.
The traditional methods often take businesses 4 or 5 hours, even a day, to fulfill a payment transaction. (VNA)
Vietnamese
