On the topic of mobile money, the People’s Army Newspaper had an interview with Truong Quang Viet, Deputy Derector General of Viettel Digital Services, to provide the readership with a clearer view.
Reporter: Could you please let us know how Viettel has prepared for the offering of its Mobile Money service?
Deputy Director Truong Quang Viet: The implementation of the “Mobile Money” service is necessary, as it is getting more popular in the world now for people to go cashless. When e-transaction services are applied, the people should see the true value of the service and its convenience, making it a trending service in the society. For example, previously in Hanoi, electricity and water bills must be paid at each household. Now a lot of households have shifted to online payment, saving costs for businesses and bringing convenience to clients.
Viettel is now ready in terms of infrastructure, both in technologies and a cash deposit/withdrawal service points network. Moreover, we’ve also prepared personnel for the service. Since 2018, after the debut of ViettelPay, we’ve already defined that it serves as the premise for us to develop other cashless services in general.
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Customers experiencing Viettel's services |
Reporter: Does Viettel offer Mobile Money on the national scale?
Deputy Director Truong Quang Viet: We are capable of implementing the service nationwide, based on the ViettelPay platform we have a network of more than 200,000 transactions points that accept payment. It is estimated that if piloted, we can offer the service immediately nationwide for all Viettel mobile-phone subscribers.
Our motto is that a cashless payment service in Vietnam must be built and implemented comprehensively in both rural and urban areas with no difference. This is also one of the advantages of mobile service providers, especially Viettel. This service targets those who are currently using telecommunication services; therefore, it is available wherever there is mobile network coverage. The Viettel mobile network now covers the entire nation, including islands and mountainous and remote areas. Everyone can use Mobile Money offered by Viettel, regardless of whether they are in a rural or urban area.
Reporter: Can you tell us the benefits that users of the service enjoy?
Deputy Director Truong Quang Viet: If Mobile Money service is licensed to be offered by telecommunications service providers, e-payment services can reach 100% of the population. It would help promote e-commerce, especially for agricultural product trading floors, online public services, Fintech companies, and start-ups, helping boost economic development in general.
At present, more than 70% of Vietnamese people are living in rural areas. It is hard for them to have access to banking services. Mobile Money service is a time-saving and convenient transaction channel and a cashless payment method in which people don’t have to go to banks. They can carry out the transactions on their smart-phones or at transaction points. Mobile Money can help pay for everyday services, such as traveling, or others. The service, when officially offered, will gradually change people’s current payment habits, increasing the rate of cashless payment in line with the Government’s policy. All mobile-phone subscribers in Vietnam will be able to start enjoying e-payment immediately just one night after telecommunications service providers are granted Mobile Money licenses.
Reporter: What are the commitments of Viettel in terms of customers’ privacy and information security?
Deputy Director Truong Quang Viet: Viettel has had more than 30 years of experience in ensuring personal information for more than 70 million telecommunication subscribers. The capacity of Viettel in this area has also been tested in reality. Viettel has a cyber-security company (Viettel Cyber Security) to keep personal information of users safe. The company is also a leading company in this field in Vietnam.
Apart from technical infrastructure strength and operation of the system, Viettel posts another advantage, which is a network of 200,000 transaction points nationwide, covering a large proportion of the population, making it easier for people to get access to this service. Therefore, we expect that by 2025, there will have been 26 million subscribers using this service.
Reporter: Thank you very much!
Translated by Huu Duong