Three mobile network operators - Viettel, VNPT and MobiFone - have applied for the implementation of their own Mobile Money pilot projects.
Local telecommunications network providers have been approved to pilot several Mobile Money services next month after more than two years of waiting.
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.
The successful implementation of Mobile Money, a pilot project that will pave the way for payments of limited value to be conducted using telecommunications accounts, is one of the major targets of the Ministry of Information and Communications (MIC).
Customers using Mobile Money, a freshly-approved pilot project, may be charged a certain fee, according to the Vietnam Telecommunications Authority under the Ministry of Information and Communications.
Prime Minister Nguyen Xuan Phuc has approved a mobile money pilot project that will pave the way for payments of a limited value to be conducted using telecommunications accounts.