E-wallet users can receive bank money via phone number

Besides the QR code method, MoMo e-wallet users can receive money from any bank via an account number that is a phone number, even if the sender does not use MoMo.

MoMo e-wallet users can receive bank transfers using their phone number - Photo: QUANG DINH

On October 21, MoMo Financial Technology Group said that users of this e-wallet can receive money through the account number which is the phone number registered with the wallet.

Accordingly, when making a transaction, the sender only needs to access the banking application, select MoMo in the beneficiary bank list, enter the recipient's MoMo phone number, and confirm the transaction.

The entire process is handled through the NAPAS switching system, ensuring instant, fast and safe transaction speed. Currently, more than 20 major banks such as Vietcombank, BIDV , Techcombank, VPBank, VIB... have supported this money transfer method.

The list of connections will continue to be expanded, helping users in both urban and rural areas to maintain balances, spend flexibly and enjoy a seamless, unified financial experience on the e-wallet platform.

A representative of MoMo said that this feature helps improve the transaction experience, while expanding access to digital finance for tens of millions of users. With only one connection point, which is an e-wallet, users can receive money, spend, pay or invest, instead of having to switch through many different platforms.

Mr. Nguyen Ba Diep, co-founder of MoMo Financial Technology Group, shared: “The implementation of the connection standard to receive money from all banks that are member organizations of NAPAS is a great step forward for Vietnam's payment infrastructure.

We are the first payment intermediary to deploy this service, in the spirit of the State Bank's new legal framework and in the direction of convenient and safe cashless payments."

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Source: https://tuoitre.vn/nguoi-dung-vi-dien-tu-co-the-nhan-tien-ngan-hang-qua-so-dien-thoai-20251021173947211.htm