Vietnam’s state-owned VNPT (Vietnam Posts and Telecommunications Group) has launched a pilot mobile money service nationwide.
VNPT was issued a trial mobile money licence on 18th November by the State Bank of Vietnam, alongside rival operator MobiFone which claimed a pilot launch last week. TeleGeography reports that the service will allow customers of VNPT’s mobile operator Vinaphone to make payments via their devices, as well as withdraw, deposit and transfer money.
With demand for mobile payments surging in Vietnam – driven in part by the pandemic - Prime Minister Nguyen Xuan Phuc approved mobile money pilot programmes in March 2021. Mobile operators and specialist mobile money providers were able to apply for trial permits lasting two years.