MobiFone Digital Payment (MDP) becomes the second unit licensed for Electronic Switching and Clearing services

The State Bank of Vietnam has granted a license to provide payment intermediary services to MobiFone Digital Payment Joint Stock Company (MobiFone Digital Payment - MDP).

According to the granted license, MobiFone Digital Payment Joint Stock Company will deploy payment intermediary services in accordance with the law, including: electronic switching services, electronic clearing services, electronic payment gateway services, collection and payment support services in accordance with the management scope of the State Bank.

Mobifone Digital Payment Joint Stock Company has a charter capital of 300 billion VND, headquartered on the 30th floor of C5 D'Capitale Tower, 119 Tran Duy Hung, Yen Hoa Ward, Hanoi .

Digital transformation - digital payment is the driving force for socio -economic development. In which, digital payment holds a fundamental position, is a bridge to help connect people - businesses - Government on the same modern technology infrastructure.

In the context of the economy strongly transforming to a digital model, the rate of cashless payments continues to grow by double digits every year. The number of smartphone users has exceeded 70% of the population while online shopping, e-commerce, and online public services are increasingly popular.

However, the rate of digital payments in Vietnam is still low compared to developed countries in the region, and there are still challenges, such as: Risk of online fraud, cyber attacks, data leaks... This opens up a huge space for businesses with technological capacity, a wide ecosystem and a methodical digitalization strategy, the ability to apply new technologies such as: AI, Big Data, biometrics or blockchain to increase the level of security.

Thus, MobiFone Digital Payment Company (MDP) officially became the second unit licensed by the State Bank to deploy Financial Switching and Electronic Clearing services with the expectation of creating a healthy competitive environment, thereby providing breakthrough solutions that benefit people and businesses.

The company has a vision of creating a 4th generation core switching and digital payment infrastructure, popularizing digital payments to all people, enhancing national digital capacity - Positioning Vietnam to become a leading digital payment country in the region, fully connected to the global digital economy.

The licensing marks a new step forward for MDP on its journey to becoming one of Vietnam's important payment infrastructures , making a practical contribution to the goal of building a safe, transparent and sustainable digital economy.

Source: https://daibieunhandan.vn/mobifone-digital-payment-mdp-tro-thanh-don-vi-thu-hai-duoc-cap-phep-dich-vu-chuyen-mach-va-bu-tru-dien-tu-10397697.html