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.

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.

Vietnam is marching towards becoming a cashless society with new methods of electronic payments being deployed widely, but security risks come hand in hand with new technologies and applications.