The State Bank of Viet Nam (SBV) has licensed the Mobile Entertainment Corporation (ME Corp) to provide payment intermediary services.

Most of intermediary payment services firms provide e-wallet services. — Photo SBV

ME Corp licensed to provide payment intermediary services

09/10/2019

The State Bank of Viet Nam (SBV) has licensed the Mobile Entertainment Corporation (ME Corp) to provide payment intermediary services.

SR Vietnam | Content Marketing & Business Solutions

Under the licence, ME Corp is allowed to provide electronic payment portal, cash collections and payment services, and e-wallet services.

When ME CORP wants to provide the payment support services to its customers it must connect with a SBV-licensed financial switching services and electronic clearing services organisation and meet all technical standards set by the organisation.

The SBV has so far licensed 30 non-bank institutions to provide intermediary payment services, of which 20 offered e-wallets and most of the institutions have foreign investments.

Most providers currently offer free or low-cost e-wallets in order to attract users. This explains why the transaction value via e-wallet has increased sharply.

Customers are also attracted to the payment method because it allows them to use mobile applications to quickly pay for goods and services in just a few seconds.

Established in 2010, ME Corp provides digital content on mobile platforms, including apps and games. — VNS

Source: Bizhub.vn

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