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Mobile money services step into limelight for unbanked 10:00 | 17/03/2021
Vietnamese telecom behemoths are gearing up to offer seamless mobile money services to tap into the lucrative contactless payment industry in Vietnam, with major focus on non-banked and underbanked mobile subscribers in remote areas.
The long-awaited implementation of mobile money is believed to enable banking-like solutions for those previously unbanked. Photo: Le Toan
Prime Minister Nguyen Xuan Phuc last week greenlit the two-year pilot application of mobile money, which allows the use of mobile phone accounts to pay for small-value goods and services. Following Decision No.316/QD-TTg, telecom service providers will have to build and send dossiers to the State Bank of Vietnam (SBV) for consideration and appraisal.