Mobile money service will help transform telecom networks by creating a foundation for data, computing, digital content, and internet of things (IoT). – Photo vietnamplus.vn The service allows users to transfer and receive money as well as make payments through mobile accounts for services such as health, education, finance, jobs and social welfare. The scheme permits telecommunications firms to pilot a mobile money service not linked to consumers’ bank accounts. If Viet Nam approves a trial run of the mobile money service this year, the country will be the 91st nation in the world operating the service, according to Hung. By the end of 2018, as many as 90 countries were accepting mobile money with up to 900 million users. The transaction value reached US$1.3 billion a day with an annual growth rate of 20 per cent. In Asia, the growth rate was 31 per cent. In many countries, half of the population uses mobile money. Although Viet Nam was implementing the service at a later date, the country still had advantages, Hung said. It is possible to learn from other countries’s deployment and legal framework, he said. In addition, there are many large international organisations that regularly provide summaries… Read full this story
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