Over 463,000 users of Mobile Money service reported nationwide

More than 463,000 people have used Mobile Money as of February 11, over one month after the Viettel Military Industry and Telecoms Group (Viettel) and the Vietnam Posts and Telecommunications Group (VNPT) launched the cashless payment service.

So far, 77,200 establishments have accepted this payment method nationwide, the Ministry of Information and Communications said. 

To popularise the service to the public, Viettel has set up 80,000 points to provide consultations and support customers in registering and using the service.

Mobile Money is expected to be a push towards cashless payment in Vietnam, a country where only 50% of the population have a bank account, and most people pay for goods valued at less than VND100,000 (US$4.41) by cash. 

The development of Mobile Money will help promote digital transformation, and expand the use of cashless payment services to most people, especially those in remote, mountainous and rural areas.

The ministry will build mechanisms to promote, manage and supervise the deployment of Mobile Money service this year.

It will also continue to encouraging telecom service operators to transform telecommunications infrastructure into digital infrastructure which will significantly contribute to developing e-Government, digital economy and society.