As of late September 2025, Vietnam’s Mobile Money services had processed over 290 million transactions, with a total value of approximately 8.511 trillion VND (around 350 million USD). A total of 10.89 million accounts have been registered - 70% of which belong to users in rural, remote, or island areas.

Draft decree on Mobile Money submitted to the government

On April 15, 2025, the Vietnamese government issued Resolution No. 87/NQ-CP to extend the pilot implementation of Mobile Money - allowing telecommunications accounts to be used for small-value payments - until December 31, 2025.

The resolution allows companies already licensed by the State Bank of Vietnam (SBV) to continue their pilot programs. The SBV was also tasked with drafting a full legal decree on Mobile Money services in coordination with relevant ministries and agencies.

The pilot, originally approved under Decision No. 316/QĐ-TTg dated March 9, 2021, granted licenses to three telecom operators: VNPT, MobiFone, and Viettel.

At a press briefing held on December 29 to review banking operations in 2025 and outline plans for 2026, Le Van Tuyen, Deputy Director of the SBV’s Payment Department, said the Mobile Money pilot has met part of the population’s real-world needs. It has promoted cashless payment adoption and broadened access to financial services, especially in rural, mountainous, border, and island areas.

The service leverages telecommunications infrastructure and data to reduce social costs, expand digital payment channels via mobile devices, and deliver convenience to users.

“As of late September 2025, the total number of Mobile Money accounts reached 10.89 million, with about 70% registered in rural, remote, or island areas,” Tuyen noted.

“These accounts processed over 290 million transactions worth around 8.511 trillion VND (approx. 350 million USD),” he added.

Following the government’s Resolution 87, businesses will continue operating the pilot service until the end of 2025.

To prepare for full-scale deployment, the SBV has led efforts to develop the legal framework. On December 12, 2025, it submitted the draft decree to the government for consultation among cabinet members.

143 million personal banking profiles verified via biometrics

On the broader digital finance front, Le Van Tuyen also shared updates on the implementation of National Project 06 and Plan 01.

As of December 26, 2025, over 143 million personal customer profiles and 1.5 million organizational profiles with payment accounts had been matched with biometric data via chip-based national ID cards (CCCD) or the VNeID app.

Roughly 22.14 million individual users and 392 organizations using e-wallets had their identities verified against CCCD data through e-wallet platforms.

The National Credit Information Center (CIC), in cooperation with the Ministry of Public Security's C06 division, completed seven rounds of offline data validation covering approximately 57 million customer records. To date:

57 credit institutions and 39 intermediary payment providers have implemented CCCD verification via mobile apps.
63 credit institutions have deployed CCCD verification via in-branch devices.
32 credit institutions and 15 intermediaries have integrated VNeID functionality.

Real-time monitoring system fights payment fraud

The SIMO system (System for Monitoring Suspected Accounts and E-wallets) is now active, allowing participating institutions to report suspicious accounts and share this data across the network.

Using SIMO’s centralized data, financial institutions can decide to block transactions instantly or require additional authentication - reducing fraud, scams, and improving customer protection.

As of December 28, 2025, over 2.4 million users received scam alerts. More than 776,000 of them halted or canceled transactions totaling 2.9 trillion VND (approx. 119 million USD) after receiving warnings.

PV