Mobile Money, since its inception, has aimed to improve access to financial services, especially in rural, mountainous, remote, border and island areas, where access to traditional banking services is limited due to underdeveloped transport, telecommunications and banking network infrastructure.
The pilot Mobile Money service has been deployed under Decision No. 316/QD-TTg dated March 9, 2021 of the Prime Minister . According to the State Bank, after nearly 3 years of implementation, the service has achieved positive results, ensuring safety, contributing to the development of non-cash payment activities.
However, because it is still in the pilot phase and there is no official legal framework, organizations are cautious in implementing it, affecting decisions to increase investment budgets for service development. Therefore, it is urgent to complete the legal framework so that Mobile Money services can officially operate.
In the draft decree on mobile money services that the State Bank is seeking opinions on, customers are allowed to use Mobile Money to pay for foreign goods and services. This is a new step, institutionalizing the economic integration policy, facilitating people in small-value cross-border transactions.
In particular, the management agency proposed to increase the Mobile Money limit to 100 million VND. Because, currently, the pilot service allows no more than 10 million VND/month/Mobile Money account for total transactions: Withdrawal, money transfer and payment... which is not suitable for the current income and business activities of people, so it does not attract customers.
Also according to the draft, the limit of 100 million VND does not apply to payment transactions for essential services such as: public services, electricity, water, tuition, hospital fees, social insurance... (an additional limit of 100 million VND/month is added for payment transactions for essential services). This creates great flexibility, helping mobile money become a more convenient payment tool for people's daily needs.
The draft decree adds regulations allowing users to deposit cash and receive money from payment accounts and e-wallets, aiming to enhance the competitiveness of Mobile Money in the market.
Regarding administrative procedures, the granting of a license to operate mobile money services is the basis for the State Bank to perform the function of managing and supervising the activities of service providers, thereby limiting risks, preventing violations of the law and protecting the legitimate rights and interests of customers when using this service.
Source: https://hanoimoi.vn/de-xuat-nang-han-muc-mobile-money-len-100-trieu-dong-708297.html
Comment (0)