March 05, 2017 | 20:09 (GMT+7)
Viettel promotes non-cash payment by V-Wallet
PANO - The military-run telecommunications group Viettel (Viettel) has just developed V-Wallet to keep pace with the trend of mobile payment in the coming time.
At the 2017 Mobile World Congress (MWC) held in Barcelona, Spain, from February 27 to March 2, Viettel introduced IT products based on telecommunications platforms, which have been successfully applied in Vietnam and its international markets. Some of them are online Wallet (V-Wallet), e-government network, sales management solution for distribution chains (DMS) and more. Particularly, V-Wallet was the product that attracted much attention from partners. This is a technological application that has simulated the traditional wallet preserving electronic money accounts and allowing people to transact non-cash payments with a popular mobile phone.
Viettel is expanding its markets in subregions with an underdeveloped banking network. Accordingly, V-Wallet will support people in the area to pay all kinds of bills and various fees easily and conveniently. The development of V-Wallet will reduce the amount of cash circulation, moving towards non-cash payments. In addition, V-Wallet will also help governments control cash flows; prevent the risk of fraud, tax evasion and terrorism.
The Viettel's V-Wallet product is developing in Tanzania
Especially, Viettel has many advantages in development of this product and readily sharing its knowledge and experience with other network providers, such as pricing policies, negotiation experience and more.
According to a report of the Viettel Global Investment Joint Stock Company (Viettel Global), V-Wallet is developing well in the markets of Cambodia and Tanzania. The company’s board of directors has also continued to table a plan to conduct the application in other countries such as Myanmar and Timor-Leste.
Translated by Lam Anh