After nearly 2 years of pilot implementation, nearly 1.8 million customers have registered and used VNPT's Mobile Money service. Of which, the number of customers registering and using services in rural, mountainous, remote, border and island areas accounts for 71%, the number of Mobile Money business points reaches nearly 3,500 points.
So far, Mobile Money users can make direct money transfers to more than 100 million payment accounts opened at banks and vice versa. In addition, VNPT Money has successfully integrated the feature of transferring and receiving money from Mobile Money via VietQR code of banks.
Mobile Money is a service that allows users to make small-value transactions for goods and services using their mobile phone accounts. Unlike conventional electronic wallets, Mobile Money provides users with an account linked to their mobile subscriptions, eliminating the need for a bank account. This account, akin to a telecommunications account, allows users to transfer money and make legitimate payments for services and goods within Vietnam.
The Mobile Money service has been granted a two-year pilot implementation licence by the State Bank of Vietnam, commencing from November 2021 until November 2023.