|A customer using Viettel Pay. Viettel and VNPT proposed that the PM instruct the central bank to allow them to offer financial switching services and electronic clearing services. — VNS Photo Vũ Hoa|
HÀ NỘI — Prime Minister Nguyễn Xuân Phúc has asked Viettel and VNPT to complete applications for submission to the State Bank of Việt Nam (SBV) to participate in e-payment mechanisms in Việt Nam.
Earlier, the Ministry of Information and Communications and the two biggest telecom providers in Việt Nam – Viettel and VNPT – proposed that the PM instruct the central bank to allow them to offer financial switching services and electronic clearing services.
The ministry said the advantage of the telecom firms when participating in electronic payment is that mobile networks can cover approximately 100 per cent of the population while banks only cover 30-40 per cent.
Telecom firms are also powerful in technology, infrastructure, and sales channels. The telecommunication accounts are also being used to pay for telecommunication services.
There is an expectation that e-banking can cover 100 per cent of the population, it said.
financial switching services and electronic clearing services in Viet Nam, acting as an intermediary connecting banks.
If Viettel and VNPT were granted a licence, NAPAS would have a big rival as the two telecom firms have nearly 100 million mobile subscribers in the country.