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Companies that provide e-wallet and telecommunications services can apply for permission to test the deployment of the mobile money service as of March 9.
Prime Minister Nguyen Xuan Phuc has just signed a decision approving the pilot deployment of mobile money (Mobile Money), that is, using a telecommunications account to pay for goods and services of small value. The pilot period is 2 years from today (March 9).
The pilot permit for Mobile Money aims to contribute to the development of non-cash payments, improving access and use of financial services, especially in rural, mountainous and regional areas, remote areas, borders and islands of Vietnam.
The subjects authorized to participate in the mobile money pilot are companies licensed to provide services of electronic wallet payment intermediaries and telecommunications operators.
According to the decision, these businesses have services for clients whose identity card or citizenship card, passport matches the registration information of the mobile subscriber and is identified and authenticated according to regulations. At the same time, mobile subscribers must also activate and use them continuously for at least 3 consecutive months until the moment of registering to open and use the mobile money service.
Each customer can open only 1 mobile money account at each pilot company. The total transaction limit for such an account must not exceed 10 million VND per month for all transactions, including withdrawal, money transfer and payment.
Customers can top up the mobile money account at the pilot participating company’s business point, from a bank account or electronic wallet. In the opposite direction, customers can also withdraw money from mobile money accounts to their bank accounts, e-wallets, and at business locations.
The results of the pilot implementation of Mobile Money will be a practical basis for the competent authorities to review, develop and issue official legal regulations for the provision of this service in Vietnam.
Earlier, the Head of the Payments Department (State Bank) Pham Tien Dung said that the biggest bottleneck with payments in Vietnam was the usual behavior. “Mobile money will be a channel of financial education. Thanks to it, people can know how to use financial services, indirectly help them understand and use quickly, promote banking services. It is a piece of cake. Growing up, it does not affect anyone. party, “said the Payment Director.
With the same point of view, the Minister of Information and Communication, Nguyen Manh Hung, also said that banks do not have to worry too much because Mobile Money with small transactions is training people to become future customers of the bank. . Leaders of the Ministry of Information and Communications also believe that mobile money promotes access to financial services.
Anh You
