VNPT is the pioneer in perfecting the connection of Mobile Money accounts with bank accounts

The unit has officially provided users with the ability to connect VNPT’s Mobile Money accounts with banks’ accounts.

As a “late birth” digital financial service compared to other types in the domestic market, Mobile Money, after nearly a year of piloting in Vietnam, has shown a number of barriers that make the service popular. difficult to reach the majority of users.

One of the issues raised and discussed by operators at many forums recently is the need to soon take measures to allow Mobile Money to connect to transfer and receive money with the banking system. Recognizing this as an important factor to attract users and promote Mobile Money, VNPT Group has actively accelerated the cooperation with the National Payment Corporation of Vietnam (NAPAS). Accordingly, on September 12, VNPT was officially the pioneer operator to complete the connection integration, allowing users to link Mobile Money accounts with bank accounts in the Napas system.

Previously, money transfer to Mobile Money account could only be done from a Mobile Money account/e-wallet of the same carrier, not from a bank account. This creates a huge limitation for users, when those who are used to using banking applications for transactions cannot connect to other people’s Mobile Money.

Allowing the connection and transfer of money from the banking application to the Mobile Money account can be considered as a big step for VNPT in expanding the service function, creating a highlight to attract Mobile Money users more than before. this. With this new feature, VNPT’s Mobile Money users also have a new top-up method from the banking application they are using, instead of just being able to do it on the VNPT Money app or go to a transaction point like before.

As a pioneer operator licensed by the State Bank to pilot providing Mobile Money in Vietnam, over the past year, VNPT has determined to take Mobile Money as its core service and has shown its determination to popularize mobile money. This type of service has many advantages for users.

By the end of August 2022, VNPT has nearly 1 million Mobile Money users, of which 62% are customers in rural, mountainous, remote, border and island areas; VNPT’s Mobile Money business points currently have more than 2,800 points and more than 10,000 units accepting Mobile Money payments across the country. Up to now, VNPT Money of VNPT is also a provider of payment channels via Mobile Money on the National Public Service Portal, serving people to pay for more than 5,000 level 4 public services.

Most recently, this is also a payment intermediary that supports the payment of University – College entrance fees in 2022 with a full range of payment methods including: Mobile Money, e-wallet, QR Code and bank account products, bringing practical utilities to millions of parents/students in the first year that the Ministry of Education and Training implemented fee collection entirely online.

It is known that VNPT is also rapidly implementing the final work to prepare for allowing banking applications to scan QR codes of VNPT Money and vice versa, thereby expanding the scope and diversifying forms of service use, meeting the increasing needs of users.