Mobifone partners with Techcombank in digital payment

Viet Anh

Jul 02, 2025 / 03:58 PM

The venture, with a charter capital of VND300 billion (US$12.8 million), aims to leverage the strengths of its founders to offer advanced payment solutions.

THE HANOI TIMES — Mobifone, one of Vietnam’s leading telecoms operators, has joined forces with Techcombank and One Mount Group to set up Mobifone Digital Payment JSC, the latest addition to the country’s booming digital finance sector.

Mobifone holds a 51% stake in the new company, while One Mount Group and Techcombank own 38% and 11%, respectively. One Mount Group is Techcombank's tech firm.

Hình ảnh 1 — MobiFone Digital Payment Joint Stock Company is founded with a charter capital of VND300 billion (approximately US$12.8 million). Photo: Mobifone

Phan Thanh Son, former Deputy CEO of Techcombank, has been appointed the legal representative and general director of Mobifone Digital Payment.

Son, a seasoned banker with experience at Standard Chartered and Citibank, is expected to drive innovation in the competitive digital payment market.

This development comes at a time when Vietnam’s digital payment sector is experiencing rapid growth. Recent data shows that 62% of users prefer app-based transactions, and e-wallets such as Momo and ShopeePay are gaining traction.

Mobifone Digital Payment is well-positioned to tap into this trend with Mobifone’s existing infrastructure, including its Mobifone Pay e-wallet and Mobile Money service. One Mount Group brings expertise in retail and fintech through platforms like VinShop and OneU. Meanwhile, Techcombank’s financial prowess lends credibility to the partnership.

This venture marks Mobifone’s latest expansion beyond telecommunications since its transfer to the Ministry of Public Security earlier this year. Analysts view this move as a strategic step to diversify revenue streams and compete with established players like Viettel and VNPay.

As Vietnam’s digital economy surges, Mobifone Digital Payment aims to carve a niche by integrating telecommunications, banking, and e-commerce solutions, a trifecta that could redefine convenience for millions of users.

Techcombank wins awards for excellence from The Asian Banker

27 May, 21:39

The Vietnamese bank earns a string of awards from the prestigious financial platform.

Mobifone greenlighted to pilot Mobile Money services

19 Nov, 10:59

The mobile carrier is set to provide the service at 600 stores and distributors in the first phase, with the view of expanding to 10,000 dealers during two years of pilot implementation.

Viettel, MobiFone licensed to pilot 5G commercial running

01 Nov, 13:15

The commercial pilot will help the telecom carriers assess their technology and the market size before officially providing 5G commercial operations.

Vietnam to tighten biometric authentication for new bank cards next year

Bank card issuers must conduct a face-to-face meeting and match the biometric data of individual customers or the legal representative of organizational customers with their identity documents.

05 Dec, 10:37 AM

Make in Vietnam forum spotlights breakthroughs shaping digital future in the country

Vietnam will host the seventh National Forum on Vietnamese Digital Technology Enterprises on December 25 in Hanoi, highlighting policy directions, strategic technologies and progress under the “Make in Vietnam” initiative as the country pushes toward a stronger digital economy.

02 Dec, 03:33 PM

Hanoi and Moscow seek new economic momentum as partnership marks 75 years

At the Moscow–Hanoi Business Forum, leaders from both capitals said 75 years of Vietnam–Russia ties provide a strong foundation to deepen economic and investment cooperation, especially in technology, trade and urban development.

02 Dec, 02:17 PM

Vietnam manufacturing maintains strong momentum despite storms disrupting supply chains

Vietnam’s manufacturing sector continued to expand in November, marking the fifth straight month of improvement, even as severe storms caused supply-chain delays and slowed production, according to S&P Global.

01 Dec, 09:13 PM

Techfest 2025 returns to Hanoi, spotlighting Vietnam’s vibrant startup community

Hanoi’s Hoan Kiem pedestrian street will host Techfest Vietnam 2025 from December 12 to December 14, welcoming entrepreneurs, investors and the public to explore emerging technologies and celebrate the country’s growing culture of innovation.

01 Dec, 09:07 PM

Vietnam expands major entrepreneurship program to unlock opportunities for women nationwide

The Vietnam Women’s Entrepreneurship Support Program has surpassed nearly every target set for 2017–2025, empowering more than 118,000 women to launch new ventures and laying the groundwork for a stronger, more inclusive entrepreneurial ecosystem in the next decade.

01 Dec, 07:11 PM

HHTIP accompanies businesses in efficient energy use for sustainability

As green transition becomes a decisive factor shaping future growth, Hanoi is intensifying efforts to push energy efficiency across its industrial zones. The city’s management board is building a development model centered on clean energy, responsible production and sustainable operations.

30 Nov, 02:00 PM

Vietnam launches Semiconductor Alliance to build skilled workforce, strengthen global industry ties

The newly launched Semiconductor Alliance in Vietnam seeks to develop skilled professionals, foster collaboration between universities and businesses while preparing the country to play a more active role in the global semiconductor industry.

28 Nov, 06:15 PM