MobiFone and VPBank (Vietnam Prosperity Joint-Stock Commercial Bank) signed a strategic partnership agreement on 2/7. The agreement will see the two companies collaborate on deploying mobiPOS, a digital payment solution for the public administration sector. MobiPOS integrates cashless payment systems between MobiFone's mobiPOS platform and VPBank's solutions such as SmartPOS, SoftPOS, QR Payment, and Ecompay. This system supports state agencies, public administration centers, and public transaction points in modernizing their collection and payment processes.
The two companies are also collaborating to implement an agent banking model across MobiFone's network of points of sale and stores nationwide. This model allows people in rural and remote areas to access basic financial services through MobiFone's existing infrastructure. These services include opening eKYC accounts, interbank deposits and withdrawals, bill payments, telecommunications top-ups, credit card registrations, and consumer loans.
 |
The signing ceremony between MobiFone and VPBank on 2/7. Photo: MobiFone |
The signing ceremony between MobiFone and VPBank on 2/7. Photo: MobiFone
The strategic partnership also focuses on developing a portfolio of integrated digital financial products centered around mobile devices. Services to be rolled out include: opening VPBank accounts, registering credit cards, and using savings services through the My MobiFone application and MobiFone Money e-wallet; MobiScoring (mobile subscriber scoring) based on consumer behavior analysis from telecommunications data; a "buy now, pay later" model for telecommunications services; and eKYC identification solutions using chip-based ID cards.
In the future, the two sides will also build the "SME Biz Hub" platform, a product designed for small and medium-sized enterprises. This solution integrates services such as electronic invoices, business credit, specialized payment cards, and preferential data packages to support digital transformation for small and medium businesses in Vietnam.
According to a MobiFone representative, the agent banking model is a promising direction to promote financial inclusion and support the goal of bringing banking services to the unbanked. The mobiPOS system has been successfully piloted and is ready to be expanded to MobiFone's transaction points nationwide.
To Manh Cuong, Member of the Board of Directors and General Director of MobiFone, stated that the strategic partnership marks an important step in integrating telecommunications technology and digital finance, aiming to build a user-centric, comprehensive service ecosystem. This collaboration enhances the customer experience while expanding access to digital services to more areas, especially those with limited financial infrastructure.
"MobiFone and VPBank have had a long-standing relationship for decades," To Manh Cuong said. "I believe that with the unity and determination of both sides, we will build an exemplary cooperation model: effective, sustainable, and making practical contributions to the national digital transformation and the country's development in the new era."
Sharing the same view, Nguyen Duc Vinh, General Director of VPBank, expressed his desire to expand the partnership in both product depth and market breadth, continuing to create new values for customers and shaping an exemplary multi-sector digital ecosystem in Vietnam.
Van Ha
