The Fourth Industrial Revolution is changing various economies across the world, including Vietnam while the investment of foreign technology companies in the country brings about both opportunities and challenges to domestic enterprises, forcing them to produce more competitive goods.

Viettel, one of the leading telecommunication enterprises in Vietnam, understood its mission of supporting people nationwide to reach the best services, including money transferring, payment, loans, and savings.

Representative from the Viettel Telecom of the Military-Run Industry and Telecommunication Group sharing information about ViettelPay

The release of ViettelPay allows customers to transfer money, make payments, deposit money, and even offers loans. It also assists mobile phone users to access banking services anytime, anywhere, and on any cell phones. The service is expected to make digital payments and e-commerce services increasingly popular.

It is targeted to help people in remote and mountainous, island and border areas access financial services quickly and conveniently.

Speaking at the launching ceremony, Pham Trung Kien, Deputy General Director of Viettel Telecom, said the launch of ViettelPay is part of the group’s plan to develop the digital payment and e-commerce ecosystem and smart logistics via cell phones.

On this occasion, ViettelPay offered its infinity package free of charge to allow users to transfer money by using their bank accounts or phone numbers. The offer only applies to the first 10,000 subscribers.

Notably, the app also provides a cash transfer service, in which customers can receive transferred money at home or from thousands of Viettel’s offices across the country within two hours after the transaction has been completed.

Visitors to the event can experience Infinity Room, the first-ever space in Vietnam, with the combination of lights, colors, and installation art in a dark space.

Translated by Trung Thanh