Over 9.87 mln customers using Mobile-Money service

The number of clients using Mobile-Money service reached more than 9.87 million by the end of September, 2024, according to the State Bank of Vietnam (SBV).

Mobile Money is a service that leverages small value services via telecommunications accounts and universalizes non-cash payment services.

It allows customers to use their telecom accounts to conduct various transactions, including payment for small-value goods and services, money transfers, and direct deposits and withdrawals at outlets and transaction points of telecom providers throughout the country, without requiring a bank account, a smartphone, or an internet connection.

The service has been piloted from March 9, 2021 and was extended until December 31, 2024.

There are currently 11,939 Mobile Money service points nationwide and 275,970 units accepting payment via Mobile Money.