Viettel ready to provide Mobile Money service to all customers

March 11, 2021 | 11:19

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In line with the prime minister’s approval of the two-year trial of the Mobile Money service, state-owned telecommunications giant Viettel is ready to roll out the new service for its customers.

viettel ready to provide mobile money service to all customers

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 staff in 2020. The group also has experience in providing such services in six overseas markets.

Officially launched in 2018, ViettelPay has over 100 features, serving as a solid foundation for Viettel to launch Mobile Money. ViettelPay now serves over 10 million customers, backed up by technology certificates and meeting international security standards.

To deploy the Mobile Money service, Viettel applies the highest-level information security technology utilising the expertise of its units focusing on network security and cyberspace. During the deployment of ViettelPay, Viettel has set up a 24/7 risk management team to ensure seamless user experience and payment security.

“With the mission of pioneering the development of the digital society, Viettel will lead the charge to popularise digital finance among Vietnamese people via the Mobile Money service. The service will be easily accessible in both urban and rural areas, making payments, money transfer, and especially daily transactions easier than ever for locals,” said Pham Trung Kien, general director of Viettel Digital Services.

According to the State Bank of Vietnam, Vietnam now has 89 million personal payment accounts, which means nearly 70 per cent of adults have bank accounts. However, the remaining 30 per cent have difficulties to access banking services.