Telecommunications accounts to be piloting in 2019

Minister of Information and Communications Nguyen Manh Hung at the meeting about the 2019 Plan announced the intention to pilot ‘Mobile Money’, a telecommunications account for digital payment.

Telecommunications accounts to be piloting in 2019

A telecommunications account is usually used to pay for telecommunications services as well as other value added services based on this platform.

This special account allows users to transfer their money and conduct transactions via telecommunications, helping citizens to enjoy online shopping regardless of their location.

In comparison with a normal bank account with the coverage of only 30 – 40 percent of the country, a telecommunications account can cover nearly 100 percent, making it the ideal choice for digital payment nationwide and reducing the possible domination of foreign partners in the field.

The Ministry of Information and Communications also proposed the pilot of using telecommunications accounts in payment for services with small value, which received approval from Prime Minister Nguyen Xuan Phuc to carry out in one specific telecommunications company.

By BA TAN – Translated by Vien Hong

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