Deputy Prime Minister Le Minh Khai has just signed Document No. 1124/TTg-KTTH on piloting the use of telecommunications accounts (Mobile Money) to pay for small-value goods and services.
According to statistics, by May, there were 3.9 million customers using Mobile Money.
Accordingly, on November 18, the Government issued Resolution No. 192/NQ-CP on extending the pilot implementation period of using telecommunications accounts to pay for small-value goods and services (Mobile Money).
To continue strengthening state management and ensuring security and safety of the payment system, the Deputy Prime Minister requested the Ministry of Information and Communications, the Ministry of Public Security , the State Bank of Vietnam and relevant agencies and units, according to their assigned functions and tasks, to strengthen inspection, examination and supervision.
Ensure that the pilot is conducted in accordance with regulations and laws, and that there are no negative incidents, distortions, or violations of the law, risks affecting social order and security, the safety of the national payment, financial, monetary systems, and banking operations.
The Deputy Prime Minister also assigned the State Bank of Vietnam to urgently preside over and coordinate with relevant ministries and agencies to submit to competent authorities to issue legal documents on Mobile Money before May 2024 in accordance with the Government's direction.
Previously, according to Decision 316/QD-TTg, the Prime Minister approved the pilot implementation of Mobile Money service for 2 years, starting from March 9, 2021 nationwide.
Mobile Money service allows customers to use their telecommunications accounts to perform various transactions such as paying for small-value goods and services, transferring money, depositing and withdrawing money directly at stores and transaction points of network operators nationwide... without requiring a bank account, using a smartphone, or an internet connection.
According to the Ministry of Information and Communications, by early May, the number of customers using Mobile Money services reached more than 3.9 million, 3 times higher than the same period in 2022.
Of these, the number of customers in rural, mountainous, remote and isolated areas reached more than 2.7 million customers, accounting for 69% of customers using the service.
The number of business locations nationwide reached more than 9,953, up 12% compared to March, the number of payment acceptance units reached 15,326, up 0.2%.
The total number of transactions (deposits, withdrawals, transfers, payments) using Mobile Money is more than 26.1 million transactions with a total value of about 1,683 billion VND.
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