Why aren’t traffic accounts directly linked to bank accounts for user convenience and to reduce intermediaries?
From October 1st onwards, all vehicle owners must upgrade from toll accounts to new traffic accounts to be able to pass through automatic toll stations.
Interestingly, while the traffic account serves as a vehicle identifier, it cannot be used to directly pay for road and bridge tolls. Instead, it must be linked to an e-wallet or Visa card. The traffic account also cannot be directly connected to a bank account for road toll deductions.
Addressing this query, Mr. To Nam Toan, Head of Science and Technology, Environment and International Cooperation Department (Vietnam Road Administration) explained:
The requirement for linking with a traffic account is to have a cashless payment account such as an e-wallet, credit card, direct debit, or direct credit…
Meanwhile, Article 3 of Decree 52/2024/ND-CP stipulates: Cashless payment services include payment services through customers’ payment accounts and payment services not through customers’ payment accounts.
Among these, the payment service through the customer’s payment account is to provide means of payment; perform check payment services, direct debit, direct credit, bank cards, money transfer, collection, and other payment services for customers through the payment account.
The payment service not through the customer’s payment account is to provide payment services and perform payment transactions without going through the payment account.
According to these regulations, an individual’s bank account is not considered a cashless payment instrument.
“Therefore, road toll payments cannot be deducted directly from bank accounts but must be made through traffic accounts linked to e-wallets,” said Toan.
Meanwhile, Ms. Nguyen Thuy Anh, Deputy Head of the Payment Department, State Bank of Vietnam, said that the transaction speed for vehicles passing through the station requires a time of 0.2 seconds with an efficiency of 99%. In contrast, the connection speed with bank accounts is slower, achieving only about 50%, which is not satisfactory.
Thuy Anh shared that in recent years, the State Bank has directed and improved the legal corridor for providers to meet diverse demands.
However, as discussed, the transaction speed through banks to ensure automatic toll collection does not meet the requirements. Even during the drafting of Decree 119, the State Bank has paid attention to directing, but partly due to the capacity of banks and payment service providers, it has not been possible to meet the demands.
Nonetheless, Thuy Anh also believed that this is a specific collaboration between road toll service providers and payment method organizations. Both parties can promote solutions to establish early connections, ensuring smooth, seamless, and secure transactions.
Ngân Tuyền (ANTĐ)
