The bilateral e-payment system between BIDV and Vietnam Social Security will help electronize insurance collection/payment, save time and costs for businesses and individuals. BIDV becomes the first commercial bank to implement a bilateral e-payment system with Vietnam Social Insurance.

Particularly, from 1 September 2019, organizations and individuals may opt for diverse forms of payment channels at BIDV such as: internet banking, mobile banking, online bill payment, interbank money transfer, automatic debit, or over-the-counter payment for social insurance, health insurance, and unemployment insurance.

The implementation of this payment system also meets level-4 online public service standard according to the Prime Minister's policy and the State Bank of Vietnam’s non-cash payment policy.

This marks an important step in the cooperation between the insurance industry and BIDV in particular and commercial banks in general in the process of modernizing the collection of social insurance, helping bring the best utilities to residents and businesses.