MobiFone Digital Payments Joint Stock Company Launches in Vietnam
Located in Hanoi, MobiFone Digital Payments Joint Stock Company (MDP) has officially launched, signaling a pivotal change in Vietnam’s payment landscape. Backed by MobiFone Telecommunications Corporation, this next-generation digital payments platform aims to serve as a comprehensive provider of digital infrastructure across the nation.
Regulatory Authorization and Service Offerings
Licensed by the State Bank of Vietnam on November 27, 2025, MDP is now authorized to offer a variety of intermediary payment services in accordance with regulatory requirements. These licensed services include a full suite of payment solutions designed to meet the needs of both consumers and businesses alike.
Advancing Vietnam’s National Payment Infrastructure
MDP’s primary mission is to spearhead the development of Vietnam’s fourth-generation national payment infrastructure. By implementing an innovative technological platform, MDP seeks to facilitate seamless connectivity among banks, financial institutions, enterprises, and digital ecosystems, thereby establishing the groundwork for a new era of digital payments in the country.
Forging Strategic Partnerships
The company has made impressive strides in creating a robust digital payments ecosystem, forming partnerships with over 20 member institutions, including leading Vietnamese banks and financial organizations. Notably, a partnership with Visa was announced during the launch event, emphasizing the strong support MDP has garnered from major global players in the industry.
Collaborative Efforts with NAPAS
Prior to its official launch, MDP signed a Memorandum of Understanding (MoU) with the National Payment Corporation of Vietnam (NAPAS). This agreement aims to explore and implement connectivity between their respective switching systems, contributing to the development of a synchronized, secure, and flexible national payment infrastructure.
Insights from Industry Leaders
The launch ceremony in Hanoi attracted key stakeholders, including representatives from Vietnam’s Ministry of Public Security and the State Bank of Vietnam, as well as various domestic and international partners within the digital finance ecosystem. Nguyen Ngoc Canh, the deputy governor of the State Bank of Vietnam, emphasized the relevance of MDP’s launch during a time of rapid transformation in the banking sector.
Vision for the Future of Payments
Chairman Bui Son Nam articulated the strategic vision guiding MDP, emphasizing the importance of building an open and flexible payment technology platform. He indicated that strategic alliances would act as a crucial growth engine for the company, which is founded on three core values: utilizing technology to create modern platforms, fostering innovation for new solutions, and ensuring trust through secure and transparent transactions.
Phan Thanh Son, CEO of MDP, elaborated on the company’s regional aspirations, asserting that MDP intends to build a cutting-edge digital payments infrastructure in Vietnam. He stated that this infrastructure would be developed by Vietnamese professionals and operate according to international standards, ensuring effective connectivity with both domestic and global financial ecosystems. He emphasized that collaborative efforts among banks, technology firms, and partners on a common platform could accelerate and sustain the growth of Vietnam’s digital payments market while enhancing its status within the regional digital economy.
Looking forward, MDP aims to expand its partnerships with technology companies, fintech firms, and other ecosystem partners to establish a diverse and secure digital payment environment for Vietnam.