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MobiFone approved to pilot mobile money

19 Nov 2021

MobiFone has announced that it has become the first mobile operator in Vietnam to secure approval to pilot mobile money services nationwide. The State Bank of Vietnam has signed Decision No. 1818/QD-NHNN approving MobiFone to trial mobile money services until 18 November 2023. Under the pilot scheme, customers will be able to use their telecoms accounts to perform financial transactions, including paying for goods and services, and transferring, depositing and withdrawing money. In the first phase, MobiFone will offer the service at more than 600 MobiFone stores and transaction points nationwide, with this eventually expanded to more than 10,000 transaction points of partners and agents.

In March 2021 Prime Minister Nguyen Xuan Phuc signed Decision No. 316/QD-TTg approving a pilot programme for the introduction of mobile money services. From that date, telecoms operators and e-wallet providers were permitted to apply for mobile money trial licences, under which telecoms accounts can be used to pay for small value goods and services, for a period of two years.

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