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VIETNAM NEWS HEADLINES MAY 20

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Mobile money services step into limelight for unbanked

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. ....

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Mobile Money paves the way for sandbox mechanism: minister

Mobile Money paves the way for sandbox mechanism: minister
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13/03/2021

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Mobile Money on a trial basis will create a precedent for applying the sandbox mechanism to other services and new professions to appear in digital society.
Sandbox mechanism refers to new technologies, products, services and business models. It is done in an environment in which technology firms carry out experiments under certain limitations. The trial will provide information to management agencies to decide whether to continue or stop the models and create official legal frameworks. ....

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Viettel ready to provide Mobile Money service to all customers

Viettel ready to provide Mobile Money service to all customers
11:19 | 11/03/2021
Viettel will utilise its considerable ICT potential to roll out the Mobile Money service
On March 9, the prime minister officially approved the pilot of Mobile Money service for a duration of two years. Accordingly, e-wallet providers and telecom service providers will be able to deploy the new service.
The trial aims to promote cashless payments in the country, while strengthening access to and use of financial services, especially for those in rural, remote, and mountainous areas.
In anticipation of the future trend, Viettel launched the internal trial run of the Mobile Money service for 40,000 staffÂ in 2020. The group also has experience in providing such services in six overseas markets.Â ....

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