Update news mobile money
Mobile Money is a service that uses telecommunications accounts to pay for goods and services, promoting cashless payments, especially in rural areas.
Cake by VPBank digital bank and Be the on-demand multi-service consumer platform have inked a comprehensive cooperation agreement with Viettel Money - Viettel Group's digital financial and commercial ecosystem.
Le Anh Dung, deputy director of the Payment Department under the State Bank of Vietnam, noted that the Mobile Money service has grown positively.
The benefits of Mobile Money for Vietnamese are undeniable, but it is difficult to change people's spending and payment habits.
Mobile Money started in late 2021 on a trial basis. Initial results have been good, but many problems still exist.
The total number of customers registering for and using the Mobile Money service reached more than 1.1 million by the end of March.
More than 463,000 people have used Mobile Money as of February 11, over one month after Viettel and VNPT launched the cashless payment service, according to the Ministry of Information and Communications.
The introduction of the Mobile Money service in Vietnam raises a question of its possible attractiveness, as people can easily use the Internet for their financial activities.
MobiFone has become the first telecoms company to provide Mobile Money services in Vietnam after receiving permission from the State Bank of Vietnam on November 18.
Vietnam will pilot Mobile Money service across the country for two years before officially launching it, according to Deputy Governor of the State Bank Dao Minh Tu.
The trial Mobile Money service allowed by the Prime Minister will set a precedent for applying a "sandbox" scheme for new services and professions in digital society.