Tech

The State Bank of Viet Nam said the tightened regulations aimed to prevent the rampant opening of e-wallets and using them for money laundering. — File Photo A daily trading limits for individual e-wallets would be set at VND20 million (US$850) and VND100 million per month, according to a draft circular from the State Bank of Viet Nam recently made public for comment. The limits would be set for money transfers and payments for goods and services. The draft circular is an amendment to Circular No 39 regarding intermediary payment services, and also sets a daily trading limit of VND100 million and a monthly trading limit of VND500 million for e-wallets opened by organisations. The draft also raised regulations aimed at tightening the opening of e-wallets. In order to open e-wallets, individuals and organisations would be required to provide information such as identity cards or passports, business registration certificates and phone numbers registered for e-banking services. … [Read more...] about Daily trading limit for individual e-wallets set at VND20m: draft

Representatives of Viet Nam Railway (VNR) and NextTech Group sign the agreement to offer online booking and payment services for railway tickets through VIMO. — VNS Photo Vu Hoa Viet Nam Railway (VNR) and NextTech Group signed an agreement on Tuesday in Ha Noi to offer online booking and payment services for railway tickets through e-wallet VIMO. Users will be able to book tickets online through VIMO in just a few minutes anytime, anywhere. Phan Quoc Anh, VNR’s deputy general director, said VNR has offered online booking on its website duongsat.vn since October 2014. It has worked to expand agent systems and other sale channels such as mobile phones, e-banking and e-wallets to provide more convenient options. Anh said around 30 per cent of railway tickets were sold online. As more and more commerce shifts online, VNR will encourage passengers to book tickets using the e-wallet system. Nguyen Hoa Binh, NextTech Group’s chairman, said a recent survey from the State … [Read more...] about VNR launches online payment service through VIMO e-wallet

The Ministry of Transport has approved the implementation of GrabTaxi services in three provinces, including Thanh Hoa, An Giang and Dak Nong.— Photo dantri.com.vn The Ministry of Transport has given the green light to the implementation of GrabTaxi services in three provinces, including Thanh Hoa, An Giang and Dak Nong. In a document sent to the three provincial transport departments, the ministry said that it always encouraged the application of science and technology in transportation to enhance service quality and improve convenience for passengers. Accordingly, GrabTaxi will be used to book rides for Sao Do Taxi in An Giang Province, Viet Duc Taxi in Dak Nong and Bac Trung Nam Taxi in Thanh Hoa. The ministry, however, noted that Grab was not allowed to directly work with taxi drivers to provide the services without agreement of the provincial departments of transport and taxi services operators. GrabTaxi was a service to book a taxis provided on Grab’s ride-hailing … [Read more...] about Ministry gives green light to GrabTaxi in three provinces

The signs of online payment service providers GrabPay and Momo displayed at a food store on Tran Hung Dao Street, Ha Noi. — VNS Photo Mai Huong Telecommunications firms are ready to pilot a mobile money service thanks to their modern technology infrastructure, customers, wide transaction point networks and financial resources. Prime Minister Nguyen Xuan Phuc has directed the Ministry of Information and Communications in co-ordination with the State Bank of Viet Nam to develop a mobile money project. The scheme will permit telecommunications firms to pilot a mobile money service not linked to consumers’ bank accounts. He noted that the mobile money service together with banks aimed to accelerate the development of e-payments in the country. Minister of Information and Technology Nguyen Manh Hung in a meeting last week said digital technology would create new business models and challenges or replacing the old ones. “Allowing mobile phone accounts to implement payment … [Read more...] about Telecoms firms ready for mobile money service

Cars which provide passenger transportation services via ride-hailing platforms like Grab will have to have roof signs showing that they were “contract vehicles”. This was a highlight in the latest version of the draft decree on automobile transportation businesses, replacing Decree 86/2014/ND-CP, which the Ministry of Transport recently submitted to the Government. The ministry said that it wanted to create a level playing field for traditional taxi companies and contract vehicles like Grab in the context of rapid science and technology development which was changing the transportation landscape and causing difficulties in management. The latest draft version, the eighth since 2016, included a new definition for automobile transportation businesses, which said that it was a service which included two major stages: vehicle operation and service fee fixing. With this definition, any firms involved in vehicle operation and price fixing must be registered as transportation … [Read more...] about Grab cars must have roof signs: draft