More than 34 million e-wallets were active in Vietnam as of June 30, accounting for 59% of the total 58 million activated e-wallets.

By the end of May 2024, the number of Mobile Money users in Vietnam surpassed 8.8 million, marking a 3.3% increase from the previous month. Notably, nearly 280,000 points now accept Mobile Money as a payment method.

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.

The Ministry of Information and Communications reported that the number of Mobile Money subscribers has quadrupled since the service was launched in January this year, 67% of whom were from rural, mountainous, border, island and remote areas.

As many as 1.1 million people have so far used Mobile Money service, including nearly 660,000 in rural, mountainous, remote, border and island areas.

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.

The Vietnam Posts and Telecommunications Group (VNPT) has become a Mobile Money service provider after its official launch of the service on November 25.

MobiFone has become the first telecoms company to provide Mobile Money services in Vietnam after receiving permission from the State Bank of Vietnam on November 18.

Vietnam will pilot Mobile Money service across the country for two years before officially launching it, according to Deputy Governor of the State Bank Dao Minh Tu.

The Government has issued a resolution to create a sandbox for financial technology (fintech) in the country’s banking sector.