The government has decided to extend the pilot use of credit in telecommunications accounts, known as Mobile Money, for making payments for services of small value until December 31, 2024.
The pilot began on March 9, 2021.
The service allows customers to use their telecom accounts to conduct various transactions, including payment for small-value goods and services, money transfers, and direct deposits and withdrawals at outlets and transaction points of telecom providers throughout the country, without requiring a bank account, a smartphone, or an internet connection.
The number of clients using Mobile-Money reached more than 3.9 million as of early May 2023, triple the figure in the same period last year, according to the Ministry of Information and Communications.
There are 9,953 Mobile Money service points nationwide and 15,326 units accepting payment via Mobile Money.
The total number of withdrawals, transfers, and payments through Mobile-Money was over 26.1 million, with a total value of over VND1.68 trillion ($70.1 million).