Vietnam’s authorities made the final preparations for a full-scale trial of mobile money services, with operators Viettel, Vietnam Posts and Telecommunications Group (VNPT) and MobiFone ready to apply for long-awaited licences, VietnamNet reported.
Proposals are awaiting the rubber-stamp from the country’s prime minister after the governor of the State Bank of Vietnam, Le Minh Hung, submitted the central bank’s final proposal on 9 May.
In separate statements to VietnamNet, executives from all three operators confirmed they were set to submit paperwork to begin services as soon as the final go-ahead was given.
A pilot of operator-led mobile money services had been in the works for more than a year, with the operators cleared in April 2019 [1] to trial infrastructure and pave the way for commercial services.
Progress towards full availability was pushed again by authorities in early March, with mobile money being cited as a measure which would help businesses cope with the Covid-19 (coronavirus) pandemic.
Politicians have also cited mobile money’s potential to increase financial inclusion and further reduce the number of cash payments made in the country. At end-2019, cash payments made-up less than 12 per cent of all transactions in Vietnam, Ministry of Information and Communications data showed.
[1] https://www.mobileworldlive.com/money/news-money/vietnam-operators-set-for-mobile-money-trials/
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