In early October, Mobile Money will be piloted

September 27, 2021 09:42 GMT+7

The Mobile Money pilot licensing procedure is being completed so that in early October, this service will be licensed, promoting digital transformation and the digital economy.

Mobile Money will be piloted in early October.

On September 26, 2021, Minister of Information and Communications Nguyen Manh Hung gave a speech on digital transformation of businesses in the time of Covid-19 at the Prime Minister’s conference with the business community and localities. At this event, Minister Nguyen Manh Hung affirmed: “If you want to go to the digital environment, electronic payment is considered the foundation. The fastest way for electronic payments to cover the entire population, Mobile Money is the best solution. The final procedures are being completed so that at the beginning of this October, the Mobile Money pilot license will be granted and hopefully create a strong push to promote digital transformation and the digital economy.“.

Previously, on March 9, 2021, the Prime Minister approved the pilot implementation of Mobile Money, the period of which is 2 years from the time the first enterprise implementing the pilot was approved for deployment. Customers registering to use Mobile Money service must have their identity card/citizen identity card/passport identical with the customer’s mobile subscriber number registration information and be identified and authenticated by the pilot enterprise. according to the law. Mobile subscribers must have a period of activation and continuous use for at least 3 consecutive months from the time of registration to open and use Mobile Money service.

Commenting on the Government’s permission to pilot the Mobile Money service, Mr. Nguyen Son Hai, Deputy General Director of VNPT Media, said that it is difficult for people to access electronic payment means via e-wallets or bank accounts. row. However, the Government’s permission to pilot Mobile Money will bring great benefits to the economy and people to have more electronic payment tools. This is the foundation to reach digital citizenship and digital society when the density of mobile phones is universal.

“The Mobile Money pilot is a great effort of the Government as well as related ministries, especially the role of the Ministry of Information and Communications. This is also a sandbox applied to a new, difficult and sensitive service area, but is a model that can be applied to many new services that will be allowed to pilot by the Government later. Mobile Money is the first group of sandboxes related to many ministries and sectors to be piloted to meet the needs of society,” said Mr. Nguyen Son Hai.

Sharing about this issue, Mr. Vu Hoang Lien, Chairman of Vietnam Internet Association, said that Mobile Money service will bring many benefits to consumers and society, promoting non-cash payment.

If licensed soon, Mobile Money will be the Government’s first sandbox to create a breakthrough and a strong impetus for new technologies and new services to be launched to society. If we look at the new service that benefits the people and the country, it will be very easy to put these sandboxes in order to create momentum for development. However, if you look at the benefits somewhere, there will be a certain encroachment. Sandbox is a problem that puts the national and social interests first in the strong development of the digital economy. Does the policy admit new things, new participants enter the market or does it still keep its own territory for the old ones. Sandbox will create a breakthrough legal environment, dare to accept change, accept new things to create new vitality of society in the trend of digital transformation.“, said Mr. Vu Hoang Lien.

From the perspective of service providers, Pham Trung Kien, CEO of Viettel Digital, said that when the Government allows the deployment of Mobile Money to pay for services and goods of small denominations, the number of users is paid. The Internet is very large because the coverage of network operators is much wider than that of banks, even in remote and remote areas, when people do not have a bank account. This will be the tipping point for cashless payments in Vietnam. That is, overnight, anyone, any citizen in Vietnam can be willing to use the phone to pay non-cash payments.

Thai Khang

Government urgently requests to pilot Mobile Money service

Government urgently requests to pilot Mobile Money service

The Government requires to promote non-cash payments, urgently piloting Mobile Money service. The service is currently piloted, but is still awaiting approval.


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