Le Anh Dung, deputy director of the Payment Department under the State Bank of Vietnam, noted that the Mobile Money service has grown positively.
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.
The prolonged COVID-19 pandemic has unexpectedly created "golden" conditions for the financial industry to accelerate digital transformation and shift to cashless payments.
Deputy Minister of Information and Communications Pham Anh Tuan has urged creating detailed plans on putting farming households on e-commerce sites.
Three mobile network operators - Viettel, VNPT and MobiFone - have applied for the implementation of their own Mobile Money pilot projects.
Local telecommunications network providers have been approved to pilot several Mobile Money services next month after more than two years of waiting. These services will allow the use of mobile phone credit to pay for small-value goods and services.