The number of people using Mobile Money service in Vietnam reached 835,000 after three months, of which more than half are in rural, remote and isolated areas.
According to the report Measuring people’s activities on digital platforms in the first quarter of 2022 of the Ministry of Information and Communications, among registered Mobile Money accounts, there are 834,376 accounts with at least one transaction, accounting for 99.8%.
Mobile Money is a solution that allows users to transfer money and make payments without a bank account or an Internet connection, which can be done with a “brick” phone. This solution is expected to help people in rural, mountainous, remote, border and island areas of Vietnam, where the banking system is not yet present, can still make transactions. Translate.
According to measurement results, the number of Mobile Money users in these regions currently reaches 487,000, accounting for 58.3% of the total number of accounts. All 63 provinces and cities have Mobile Money business points, but there are only 537 in rural areas, accounting for 20% of the total 2,642 points nationwide.
By the end of the first quarter of this year, the number of units that accept to use Mobile Money accounts for payment is 11,254. The number of transactions reached 7.5 million, with a total value of 280 billion.
Some statistics about Mobile Money in Vietnam after the first quarter of 2022.
According to the assessment of the Ministry of Information and Communications, this result “has initially achieved the set goal of piloting safe services in the early stages of deployment”, contributing to promoting non-cash payment in Vietnam. Vietnam, to increase the people’s access to and use of financial services.
According to the Department of Telecommunications, by the end of 2021, the market has more than 122 million active subscribers. Thus, the number of Mobile Money users out of the total number of mobile subscribers is less than 0.7%.
Mobile Money has been piloted by telecommunications businesses Viettel, VNPT and MobiFone since November 2021. The ministry said that because this service has strict regulations on conditions for pilot implementation, telecommunications businesses are approaching cautiously and taking specific risk management measures. To use Mobile Money, subscribers need to meet the requirements of owning a genuine sim card and using telecommunications services continuously for at least three consecutive months.
Mobile Money supports money transfer on phones without Internet connection, not linked with bank cards, but depositing and withdrawing money needs to go to a transaction point. Image: Luu Quy
In addition to Mobile Money, the number of people using digital payment services of banks is also considered to have grown strongly compared to last year. According to the report, the number of monthly users of Vietcombank is 12.2 million, MB is 7.82 million, BIDV is 7.62 million, Viettin Bank is 5.46 million and AgriBank is 4.86 million.
Luu Quy
at Blogtuan.info – Source: vnexpress.net – Read the original article here
