Decision No. 316/QD-TTg 2021 telecommunication accounts for payment low value services

Pilot application of Mobile Money accounts for payment of goods

The Decision No. 316/QD-TTg on approval of the pilot application of using telecommunications accounts to pay for small-value goods and services is issued by the Prime Minister on March 09, 2021.

Accordingly, subjects of the pilot application of using telecommunications accounts to pay for small-value goods and services (Mobile Money) are enterprises possessing licenses for providing e-wallet services and licenses for establishment of public terrestrial mobile telecommunications network using radio frequency bands or subsidiary companies permitted to use the parent companies’ infrastructure, network and telecommunications data by the parent companies that are licensed for establishing public terrestrial mobile telecommunications network using radio frequency bands.

Enterprises piloting to provide Mobile Money service to deposit money into the Mobile Money account at sale points; deposit money into the Mobile Money account from the customer's checking account; withdraw money into the Mobile Money account at sale points; transfer money between customers’ Mobile Money accounts within the same system of the piloting enterprises; etc.

Besides, such pilot application shall be carried out nationwide, in which the piloting enterprises must give priority to the pilot application of Mobile Money service in rural, mountainous, remote, border areas and islands of Vietnam. The piloting period is 02 years from the time on which the first piloting enterprise is approved to deploy the Mobile Money service.

This Decision takes effect on the signing date.

For further details of the Decision 316/QD-TTg, Click here