Technology

Deputy Governor Pham Tien Dung: ‘Mobile Money is a piece in the digital payment ecosystem’


22/12/2021 17:39 GMT+7

Mr. Pham Tien Dung, Deputy Governor of the State Bank, assessed Mobile Money as an important solution to complete the National Comprehensive Financial Strategy.

Mobile Money is an important piece in the digital payment ecosystem

Speaking at the conference to review the work in 2021 and deploy the tasks in 2022 of the Ministry of Information and Communications this afternoon on December 22, Mr. Pham Tien Dung, Deputy Governor of the State Bank shared a lot of information about the transformation process. banking industry and consider that Mobile Money will be an important solution to complete the National Comprehensive Financial Strategy targeting the people.

The Prime Minister has issued a Decision approving the pilot implementation of Mobile Money from March 9, 2021. Accordingly, the Prime Minister agrees to allow businesses with licenses to provide intermediary payment services for e-wallets and licenses to establish terrestrial mobile public telecommunications networks using radio bands or other electronic devices. subsidiaries are allowed to participate in the pilot.

MobiFone is the first enterprise licensed to pilot Mobile Money service. (Artwork: MobiFone)

These businesses are allowed to provide services to customers whose ID card/citizen identification/passport coincides with the customer’s mobile subscriber number registration information and is identified by the pilot enterprise. specified authentication. Mobile subscriber numbers have been activated and used continuously for at least 3 consecutive months from the time of opening and using Mobile Money service. Each customer is only allowed to open one Mobile Money account at each implementing business.

Up to now, there are 3 telecommunications enterprises in Vietnam, namely VNPT, Viettel and MobiFone, which have been licensed to deploy the service.

Mr. Pham Tien Dung assessed, Mobile Money is an important content in the 2021-2025 Cashless Payment Scheme to develop cashless payments in rural, remote and isolated areas.

“The Prime Minister has promulgated the National Comprehensive Financial Strategy, with the goal of people having reliable and affordable access to banking and financial services, Mobile Money is an effective and important solution. important to implement this strategy., said Mr. Dung.

Mr. Pham Tien Dung, Deputy Governor of the State Bank, assessed Mobile Money as an important solution to complete the National Comprehensive Financial Strategy.

Leaders of the State Bank also expect that the Mobile Money service will contribute to promoting non-cash payments in rural, border and island areas, as well as resonating with and supporting existing banking services to create a dynamic, inclusive ecosystem to serve the people.

Proposing to submit the Law on Electronic Transactions soon

According to Mr. Pham Tien Dung, the banking industry identifies digital transformation as an inevitable path to survival, integration and sustainable development. With the coordination and support of the Ministry of Information and Communications, the State Bank has issued a decision on digital transformation of the banking industry with many goals, of which 50% of small loans are made using digital technology and 80 % of people with a bank account by 2025.

According to Mr. Dung, every day, important payment systems process 10 million transactions with about 700,000 billion VND and are entirely on electronic transactions. Therefore, the Law on Electronic Transactions is extremely important and practical for the banking industry to be able to deploy further services such as savings and credit on electronic platforms. “I propose the Ministry of Information and Communications to speed up the process of elaborating and submitting to the competent authorities for promulgation the Law on Electronic Transactions so that the banking industry can convert digitally and ensure security and confidentiality associated with the safety of electronic transactions. “, Mr. Dung said.

In addition, leaders of the State Bank also requested the Ministry of Information and Communications to coordinate with the State Bank to grasp practical information in the implementation of Mobile Money service as well as the process of regular inspection, inspection and supervision to ensure the pilot is safe and effective.

Duy Vu

Vietnam aims to have 10 digital technology enterprises with revenue over 1 billion USD

Vietnam aims to have 10 digital technology enterprises with revenue over 1 billion USD

Vietnam aims to form at least 10 digital technology enterprises with international competitiveness and revenue of over 1 billion USD by 2025.

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