Rajah & Tann Regional Round-Up
your snapshot of key legal developments in Asia
Issue 1 - Jan/Feb/Mar 2021
 

Mobile Money Pilot under Decision 316/QD-TTg

On 9 March 2021, the Prime Minister issued Decision 316/QD-TTg to approve the "mobile money" pilot, which allows the use of telecommunications accounts to pay for small value goods and services. This pilot will last for two years.


The pilot will be implemented nationwide, with eligible piloting entities being those licensed to provide electronic wallet payment intermediary services, and licensed established public mobile territorial telecoms networks (or subsidiaries with authorisation from a qualified telecoms company). 


The "mobile money" transactions may be used for payment of goods and services in Vietnam, or transfer of funds between mobile money accounts. The maximum transaction limit of an account is VND 10 million per month for all transactions, including withdrawals, transfers, and payments.




Please note that whilst the information in this Update is correct to the best of our knowledge and belief at the time of writing, it is only intended to provide a general guide to the subject matter and should not be treated as a substitute for specific professional advice.

 

Rajah & Tann LCT Lawyers
Ho Chi Minh City Office
Saigon Centre, Level 13, Unit 2&3
65 Le Loi Boulevard, District 1
HCMC, Vietnam

Hanoi Office
Lotte Center Hanoi - East Tower
Level 30, Unit 3003, 54 Lieu Giai Street., Ba Dinh Dist.,
Hanoi, Vietnam
http://vn.rajahtannasia.com


Contacts:

Dr Chau Huy Quang
Managing Partner
D +84 28 3821 2382
F +84 28 3520 8206
quang.chau@rajahtannlct.com

Vu Thi Que
Partner/Chairwoman
D +84 28 3821 2382
F +84 28 3520 8206
que.vu@rajahtannlct.com

Lim Wee Hann
Executive Committee Member
D +65 62320606
wee.hann.lim@rajahtann.com

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