VPBank and MobiFone forge strategic partnership

VPBank and MobiFone forge strategic partnership

This solution is designed to help public agencies and administrative centers modernise their payment processes, enhance transparency, and provide citizens with a more convenient and secure payment experience.

VPBank and MobiFone Telecommunications Corporation enter the agreement. — Photo courtesy of VPBank

VPBank and MobiFone Telecommunications Corporation on Wednesday signed a comprehensive strategic cooperation agreement, aiming to build an integrated telecom and banking ecosystem and expand digital services to millions of customers nationwide.

A highlight of the partnership is the joint deployment of a comprehensive digital payment solution, mobiPOS, tailored for public administrative services. The system integrates MobiFone’s mobiPOS platform with VPBank’s digital payment tools, including SmartPOS, SoftPOS, QR Payment and Ecompay.

This solution is designed to help public agencies and administrative centres modernise their payment processes, enhance transparency and provide citizens with a more convenient and secure payment experience. The system has already been successfully piloted and is ready for nationwide expansion through MobiFone’s network.

In addition, the two parties are collaborating to implement the Agent Banking model via MobiFone's retail network across the country. This initiative will provide people in rural and remote areas with access to essential financial services – such as eKYC account opening, interbank money deposits and withdrawals, bill payments, mobile top-ups, credit card registration and consumer loans – through MobiFone's existing infrastructure.

This move aligns with the goal of promoting financial inclusion and making banking services more accessible to the unbanked population.

VPBank and MobiFone also plan to integrate various digital financial products, allowing users to open VPBank accounts, apply for credit cards, and access savings services via the My MobiFone app and MobiFone Money e-wallet. Additional initiatives under development include mobiScoring: a mobile subscriber credit scoring system based on user behaviour and telecom data; Buy Now, Pay Later (BNPL) models for telecom services and eKYC solutions utilising chip-based citizen ID cards.

In the medium term, both sides intend to co-develop the SME Biz Hub platform, an integrated digital financial and telecom solution for small and medium-sized enterprises (SMEs). The platform will provide services such as e-invoicing, SME credit, specialised payment cards and data packages to support digital transformation in Việt Nam's SME sector.

According to VPBank CEO Nguyễn Đức Vinh, this strategic collaboration reflects a long-term partnership that dates back to 2017.

“MobiFone is not just a telecom provider, but a key partner in VPBank’s digital transformation journey," Vinh said.

"Together, we aim to create a model digital ecosystem that delivers real value to customers and the broader market.”

MobiFone General Director Tô Mạnh Cường also emphasised the longstanding relationship between the two firms and their shared vision.

He said: “With our mutual determination, this partnership will become a model of effective and sustainable cooperation that contributes meaningfully to the nation’s digital transformation efforts.”

The agreement marks a significant step in integrating telecommunications and digital finance, with a strong focus on user-centric services. This synergy is expected to improve customer experiences, expand access to digital services, and support the growth of a secure, inclusive and sustainable digital economy in Việt Nam. 

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