1.1 million people use Mobile Money service nationwide - Illustrative image (Photo: VNA)
Hanoi (VNA)– As many as 1.1 million people have so far used Mobile Money service, includingnearly 660,000 in rural, mountainous, remote, border and island areas.
Ngo Dien Hy, DeputyGeneral Director of the Vietnam Posts and Telecommunications Group (VNPT), said MobileMoney is an extension arm of the bank sector, enabling people in remote areasto access banking services.
After six months of the pilot implementation,over 500,000 Mobile Money accounts were opened with 2,400 recharge points,2,100 service payment acceptance points, mainly essential services such aselectricity, water, public services, and tuition fee.
The VNPT has now partly achievedits initial expectation in deploying Mobile Money service, especially inapproaching customers in new segments, Hy said.
Nguyen Dang Hung, DeputyGeneral Director of the National Payment Corporation of Vietnam (NAPAS), said that the cooperation is likely to complete theconnection between bank accounts and Mobile Money ones to the first telecommunicationsservice provider in the third quarter of 2022.
According to Le AnhDung, Deputy Director of the State Bank ofVietnam’s PaymentDepartment, his agency will continue to coordinate with theMinistry of Information and Communications and the Ministry of Public Securityto closely monitor and evaluate the pilot implementation of the Mobile Moneyservice, and address relevant problems.
Dung said that MobileMoney will help strongly promote non-cash payment in rural, remote and borderareas, and islands, contributing to creating a dynamic and inclusive payment ecosystemto serve people across the country.
Threemobile network operators - Viettel, VNPT and MobiFone – are providers of Mobile Money service. Theservice is expected to be a push towards cashless payment in Vietnam, a countrywhere only 50 percent of the population have a bank account, and most peoplepay for goods valued at less than 100,000 VND (4.41 USD) in cash./.
The Vietnam Posts and Telecommunications Group (VNPT) has become a Mobile Money service provider after its official launch of the service on November 25.
Starting from today, November 22, customers can use phone accounts such as MobiFone and Vinaphone to conduct transactions such as payments, money transfers, and cash withdrawals at banks.
Telecommunications isn't the booming industry it once was, thanks to the mobile market becoming saturated in recent years. This shift is forcing telecom providers to look for "new spaces" - one of which is Mobile Money.
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1.1 million people use Mobile Money service nationwide - Illustrative image (Photo: VNA) 
