VNPT proposes to launch mobile money services

22 Feb 2019
00:00
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Daily News

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.

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