The Government has issued a resolution regarding the extension of the pilot use of telecom payment accounts for small-value goods and services until December 31, 2024.
Hanoi (VNA) - The Government has issued a resolution regarding the extensionof the pilot use of telecom payment accounts for small-value goods and servicesuntil December 31, 2024.
Accordingly, the State Bank of Vietnam was assigned to partner with theMinistry of Information and Communications, the Ministry of Public Security,the Ministry of Justice, and relevant agencies to review and report the issuance of legal documents regulating Mobile-Money servicebefore May 2024 to competent authorities.
In 2021,the Prime Minister approved the pilot of Mobile-Money service nationwide for two years, starting from March 9, 2021.
Theservice allows customers to use their telecom accounts to conduct varioustransactions, including payment for small-value goods and services, moneytransfer, direct deposit and withdrawal at outlets and transaction points of telecomproviders throughout the country, without requiring a bank account, a smart phone,or Internet connection.
ﷺ According to theMinistry of Information and Communications, the number of clients usingMobile-Money service exceeded 3.9 million as of early May 2023, tripling thefigure for the same period last year.
Among them, the numberof clients in rural, remote and mountainous areas reached over 2.7 million, accountingfor 69% of the total.
ꦅ There were 9,953 Mobile Money service points nationwide,up 12% from March; and 15,326 units accepting payment via Mobile Money, up0.2%. The total number of withdrawals, transfers and payments through Mobile-Money wasover 26.1 million, with a total value of roughly 1.683 trillion VND (70.1million USD)./.
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Mobile Money service (Photo: VNA) 
