Waiting for mobile money pilot Mobile Money

According to the State Bank, in 2020, non-cash payments will continue to grow strongly.

Pham Tien Dung, Director General of Payment Department, State Bank, said that the complete project on Mobile Money was submitted to the Prime Minister in December 2020. The State Bank continues to receive comments from ministries and branches. The specific time to issue the project will be decided by the Prime Minister. However, the Mobile Money payment method is expected to contribute to comprehensive financial promotion, especially in remote and isolated areas, for those who do not have a bank account …

Mobile Money, when piloted, will contribute to promoting non-cash payment channels. In the photo: Customers transact through the application of a commercial bank.

“Over the past time, the State Bank has actively worked with the Ministry of Information and Communications, the Ministry of Public Security to develop a project on telecommunication accounts to pay for other small value services – Mobile Money. Of course, because the subject in Mobile Money activity has not been regulated and the operation of telecommunication companies is not under the Law on Credit Institutions, the project has received many comments from ministries and sectors “- Mr. Pham Tien Dung to speak.

Previously, to promote non-cash payments, the State Bank completed the draft and submitted to the Prime Minister a pilot scheme to use telecommunications accounts to pay for goods and services of small value. (Mobile Money).

The essence of this service is to use the identified mobile subscriber information to open an account, the State Bank’s leader confirmed that there is no such thing as tens of millions of Mobile Money accounts immediately activated. Because the right to open a Mobile Money account is the customer’s choice …

Research report on the type of Mobile Money payment by Dr. Can Van Luc and the authors group at the BIDV Research and Training Institute stated that this service will have great potentials for development in Vietnam. Because Vietnam has a large number of telephone subscribers, about 129.5 million (in 2019), of which, the number of 3G and 4G mobile phones is more than 61.3 million, the mobile phone network has been covered. country…

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