Vietnamese military-run operator VNPT has proposed to introduce mobile money services capitalize on growing demand for electronic payment options in the market.
VNPT made the proposal during a meeting with Vietnam's deputy prime minister Vuong Dinh Hue, state-owned Vietnam News Servicereported.
During the meeting, the chairman of VNPT's board Tran Manh Hung said VNPT is ready for a mobile money foray in terms of capital, with enough charter capital to establish a bank, the report states.
The Vietnamese government announced last month that it has agreed to pilot the use of mobile money services provided by operators.
The government expressed a belief that telecommunications infrastructure had become the infrastructure of the digital economy, digital society and of the fourth industrial revolution.
Vietnam's fintech market is on track to reach $7.8 billion by 2020, with digital payment solutions accounting for 89% of the total market, according to consultancy Solidance.