The Vietnamese Government has raised the monthly transaction limit for Mobile Money accounts to 100 million VND (3,850 USD), a tenfold increase from the previous cap, as it moves to expand digital payment options for consumers.
Decree 368/2025/ND-CP, issued early this month by the Government, sets out comprehensive rules for Mobile Money service providers and marks a significant expansion of the payment service that has gained particular traction in rural areas.
The 100 million VND monthly limit applies to money transfers and payments through a single Mobile Money account. Customers can use an additional 100 million VND per month for specific payments including public services, electricity, water, telecommunications, transportation, school fees, hospital fees, insurance, and bank loan repayments.
Each customer can open only one Mobile Money account per service provider. The decree states that eligible customers must be individuals using mobile phone subscriptions provided by licensed Mobile Money service operators.
Mobile Money was initiated by the Ministry of Information and Communications – now the Ministry of Science and Technology – to promote cashless payments. Unlike e-wallets, Mobile Money provides users with an account directly linked to their mobile phone subscription.
The service was licensed by the State Bank of Vietnam (SBV) for pilot operation starting in late 2021, which was later extended through the end of 2025.
At a press conference late last month, the SBV’s representatives reported that by the end of September, total Mobile Money account transactions exceeded 290 million with a value of more than 8.5 trillion VND. The country has about 10.89 million registered Mobile Money accounts, with 70% of users located in rural and remote areas.
Account holders can deposit cash, receive transfers from banks or e-wallets, withdraw cash, transfer money, and pay for goods and services. All transactions must be conducted in Vietnamese dong, with international payments processed through approved banks./.
