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Vietnam has more than 1.1 million Mobile Money users

According to the Payment Department (SBV), by the end of March 2022, the total number of people registering and using Mobile Money service was more than 1.1 million customers.

This information has just been shared by a representative of the State Bank at the Workshop “Promoting Mobile Money Development in Vietnam” held this morning (May 11).

Accordingly, by the end of March 2022, the total number of people registering and using Mobile Money service is more than 1.1 million customers.

Mobile Money is a service that allows using a telecommunications account to pay for goods and services of small value. Basically, Mobile Money service provides customers with a Mobile Money account attached to a mobile subscription. This account is similar to a telecommunications account but is allowed to be used to transfer money and pay for legal services and goods in Vietnam.

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Mr. Le Anh Dung – Deputy Director of Payment Department (SBV) shared the latest figures on the implementation of Mobile Money service. Photo: Trong Dat

Statistics of the State Bank show that, by the end of March this year, the number of users registering and using the service in rural, mountainous, remote, border and island areas is nearly 660,000 people. . The number of subscribers in mountainous and remote areas accounted for more than 60% of the total number of customers registering and using the service.

Regarding business point development, there are now more than 3,000 business points Mobile Money established in Vietnam. In which, the number of business points in rural, remote, border and island areas is about 900, accounting for about 30%.

Currently, the country has more than 12,800 points accepting Mobile Money payments, including units providing essential services such as electricity, water, and education. By the end of March 2022, the total number of transactions has reached more than 8.5 million transactions with a total value of more than 370 billion VND.

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Vietnamese users were able to use the Mobile Money service to pay for goods of small value. Photo: Trong Dat

The State Bank’s assessment shows that the Mobile Money service has helped expand the cashless payment channel on mobile devices, bringing convenience to users, meeting the actual needs of the people and society.

Service quality of businesses implementing Mobile Money pilot is generally guaranteed, there are no risks and major incidents in the process of providing services.

Mobile Money service has created trust for customers and expanded access to financial services to a new group of customers without a bank account, especially in rural and remote areas with difficult access to infrastructure. payment, banking network.

The fact that there are more than 1.1 million Mobile Money subscribers in the context of the complicated situation of the Covid-19 pandemic shows that the pilot policy of Mobile Money service has met the practical needs of the people, especially the populace. residents who do not have a bank account or do not have full access to banking services.

According to the Mobile Money 2022 report of the Global Mobile Communications Association (GSMA), the whole world currently has about 1.35 billion people using Mobile Money services. In which, about 518 million people use Mobile Money service every day.

The total value of transactions made with Mobile Money is currently over 1 trillion USD with a growth rate of up to 31% per year. Currently, Mobile Money service is being provided by 316 organizations and businesses in 98 countries around the world.

Trong Dat

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