According to statistics from the Department of Telecommunications (Ministry of Information and Communications), Vietnam has more than 3.9 million people using Mobile Money services.

The number of Mobile Money users in Vietnam has tripled compared to the figure in April 2022. The number of users in rural, mountainous, and remote areas reached more than 2.7 million, accounting for 69% of the total service users.

Currently, there are 9,953 Mobile Money service points nationwide, an increase of 12% compared to March 2023. 

The number of units accepting payment via Mobile Money was 15,326 service points, up 0.2%. The total number of transactions by Mobile Money was more than 26.1 million, with a total transaction value of over 1,683 billion VND.

Mobile Money is a service using telecommunications accounts to pay for goods and services of small value. The service was licensed by the State Bank to be piloted nationwide for a period of two years, from November 18, 2021 to November 18, 2023.

Unlike conventional e-wallets, Mobile Money provides users with an account attached to mobile subscribers without the need for a bank account. This account is similar to a telecommunications account, but can transfer money and pay for legal services and goods in Vietnam.

Mobile Money is a major policy of the telecommunications agency to promote non-cash payments, especially in rural, mountainous and island areas where people do not have access to online banking services. 

In the near future, Mobile Money will be promoted in island districts. 

Trong Dat