VETC licensed e-wallet payment intermediary service

On May 8, VETC Automatic Toll Collection Co., Ltd. announced that it was officially licensed by the Governor of the State Bank of Vietnam for providing intermediary payment services.

According to the decision, VETC payment intermediary services licensed by the State Bank of Vietnam include e-wallet services, electronic payment gateway services, collection and payment support services.

This is a very important step for VETC to ensure practical benefits and increase utility for account holders to collect fees automatically without stopping ETC. Besides paying traffic fees, ETC accounts can be used to pay for parking, seaport, airport, petrol, etc. as well as a number of other services as prescribed.

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VETC staff stick a toll card that does not stop automatically for the vehicle. Photo: TA

The investment and completion of conditions under the license also help strengthen the role of state management over transactions and ETC account balances.

In addition to complying with the specialized regulations of the Ministry of Transport on ETC activities, VETC must also comply with the supervision regulations of the State Bank on payment intermediaries, enhance the publicity and transparency of ETC accounts, and improve the quality of ETC accounts. provide a system to ensure security, safety, security…

VETC was established with the goal of becoming the unit deploying and operating the ETC automatic toll collection system applying RFID technology.

Currently, VETC is implementing automatic toll collection without stopping ETC with a total of 79 stations out of a total of 114 non-stop toll stations nationwide. VETC’s toll stations are mainly concentrated on National Highway 1 and key expressways.

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Along with that, VETC has also implemented toll collection on 4 expressways managed and operated by Vietnam Expressway Development Investment Corporation (VEC).

Previously, VETC had written to the Ministry of Transport to confirm that vehicle owners could use the balance on their traffic accounts to pay for other services related to traffic infrastructure and cars, in addition to the collection service. tolls for road use in the form of automatic non-stop.

To ensure and increase convenience for traffic account holders, and to implement the project of automatic toll collection more effectively, VETC plans to allow vehicle owners to use their traffic account balances. to pay for other services related to traffic infrastructure and cars, besides the service of collecting road user fees in the form of automatic non-use such as: registration fee; parking service fee; entry and exit fees at airports and seaports; purchase compulsory insurance for civil liability of motor vehicle owners; to pay for petrol/tolls.

Allowing customers to use the balance on their traffic account to pay for services related to traffic infrastructure and cars is in line with current regulations on non-stop toll collection.

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