What Viettel Money does

Viettel Money is a digital payment and financial services ecosystem operated by Viettel Digital, a subsidiary of Vietnam's state-owned Viettel Group (under the Ministry of Defense). The platform is built on a dual-account architecture: ViettelPay, an e-wallet with higher transaction limits (up to 100 million VND per transaction, 1 billion VND per day at the unlimited tier), and Tiền di động (Mobile Money), a telecom-linked account that uses a user's Viettel mobile subscription for transfers and payments without requiring a bank account, accessible via app or USSD code *998# even on feature phones without internet connectivity. The platform serves 26+ million users across all 63 Vietnamese provinces and is backed by 200,000+ physical transaction points including Viettel stores, authorized agents, and partner retail chains (FPT Shop, Điện máy xanh, Thế giới di động).

The product portfolio extends well beyond payments into embedded financial and lifestyle services: MBV savings (up to 500 million VND per account via MB Bank), short-term lending (Easy Vay via Easy Credit, Vay Ngắn Ngày via CAKE by VPBank), electronic insurance (via InsureMO), telecom top-up and data packages, bill payment (electricity, water, internet, tuition), Vietlott lottery purchases, and a merchant payment gateway marketed to e-commerce partners (Lazada, Tiki, Sendo, Voso). The platform holds a Payment Service Intermediary License (57/GP-NHNN, July 2020) and operates under an extended Mobile Money pilot program (Resolution 87/NQ-CP, April 2025).

Revenue is generated through transaction and payment gateway fees (B2B), bill-payment commissions, and revenue shares from embedded financial product distribution, while core wallet services (account registration, internal transfers) are offered free of charge. Go-to-market is dual-track: a direct-to-consumer mobile-first motion leveraging Viettel's telecom distribution and a B2B2C API/payment gateway motion targeting merchants seeking access to the 26M+ user base. The customer base spans Vietnamese consumers including unbanked segments (via Mobile Money), Viettel mobile subscribers (cross-sell), and merchant/enterprise partners across e-commerce, banking, insurance, and retail.

Name

Viettel Money

Legal name

Tổng Công ty Dịch vụ số Viettel - Chi nhánh Tập đoàn Công nghiệp - Viễn thông Quân đội

Website

https://viettelmoney.vn

Company type

Private

Founded year

2019

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

Viettel Money is a Vietnamese digital payment and financial services ecosystem operated by state-owned Viettel Group, serving 26+ million consumers and merchants across 63 provinces via a dual-account wallet (ViettelPay and Mobile Money) with 200,000+ transaction points, embedded savings, credit, insurance, and bill-payment services.

Ownership category

akta.pro rank

Product category

Mobile Payments / Digital Wallet

NAICS

Depository Credit Intermediation (5221)

SIC

Functions Related To Depository Banking, Nec (6099)

akta.pro primary industry

Carrier Billing & Telco Mobile Money (FSAMAEAD)

akta.pro secondary industry

Digital Payments & Money Movement (ACH/SEPA/FPS, Bill Pay, P2P) (FSAGAAAF)

Keywords

• Mobile money services
• Digital wallet
• Payment gateway
• E-commerce payments
• Telecom-linked payments

Headquarters

HQ city

Hanoi

HQ country

Vietnam

HQ region

Asia

Offices2 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Technology or R&D, Infrastructure, Personnel, Marketing or Sales, Operations, Supply Chain

Revenue model

1. Transaction and Payment Services: Viettel Money generates revenue through transaction fees for money transfers, payments, and other financial services. The platform offers free transfers between accounts, but charges may apply for certain cross-network or cash-out transactions.
2. Payment Gateway Services: Business partners and merchants pay competitive fees for integration with Viettel Money's payment gateway, enabling them to accept online payments from the platform's 26+ million users.
3. Telecommunications Top-up and Data Packages: Revenue from mobile airtime recharges and data package purchases through the platform, with promotional discounts (e.g., 10% discount on prepaid recharges from Mobile Money).
4. Bill Payment Processing: Commission revenue from processing utility bill payments (electricity, water, internet, television) and other recurring bills.

Pricing tiers

Go-to-market motion2 records

Distribution channels6 records

Marketing channels7 records

Core offering

Viettel Money operates a mobile-first digital financial ecosystem that lets Vietnamese consumers send and receive money, pay bills, recharge airtime and data, and access savings, loans, and insurance from a single app. It runs on a dual-account architecture combining the ViettelPay e-wallet and the Tiền di động (Mobile Money) telecom-linked account, and also offers a Cổng thanh toán (Payment Gateway) that lets merchant websites and apps accept Viettel Money payments.

Product overview

Viettel Money is a comprehensive digital financial ecosystem operated by Viettel Digital (a subsidiary of Viettel Military Telecom Group). The platform operates on a unified app architecture with two account types: ViettelPay (e-wallet with higher limits) and Tiền di động/Mobile Money (telecom-based account for users without bank accounts). Core products include the main Viettel Money app, the Cổng thanh toán (Payment Gateway) for merchant partners, and Evoucher for digital gifting. The ecosystem extends through financial services (MBV savings, Easy Vay and Vay Ngắn Ngày lending, electronic insurance via InsureMO), bill payment services (electricity, water, internet, phone), telecom services (mobile top-up, data packages), and entertainment services (Vietlott lottery, movie tickets). The platform serves over 26 million users across 63 provinces with hundreds of thousands of transaction points.

Differentiator

Problem solved

Functional benefit

Brands

• Tiền di động (Mobile Money): Telecommunications payment account service allowing use of mobile phone number for money transfers and payments

Products and services

• Viettel Money App The Viettel Money mobile application is a unified consumer wallet offering free peer-to-peer transfers by phone number or bank account, multi-bill payment (electricity, water, internet, tuition, insurance), airtime and data purchases, QR code payments, savings, insurance, loans, lottery, and travel — all accessible via a single app with no maintenance fees and eKYC onboarding.
• Cổng thanh toán (Payment Gateway) The Cổng thanh toán is a payment gateway API for merchant websites and apps, allowing online merchants and e-commerce platforms to accept Viettel Money payments from over 26 million users with simple integration, competitive service fees, and multi-channel marketing support.
• Evoucher Evoucher is Viettel Money's digital gift voucher system, allowing individual users to purchase and send electronic vouchers for various partner brands and services as part of the digital gifting ecosystem within Viettel Money.
• Gửi Tiết Kiệm MBV (MBV Savings) MBV Savings is a savings product offered through the Viettel Money app in partnership with MB Bank, enabling users to open savings accounts with limits up to 500 million VND per account, with flexible terms and competitive interest rates.
• Easy Vay Easy Vay is a short-term consumer lending product offered on Viettel Money in partnership with Easy Credit, providing individual loans of 1 to 20 million VND per transaction with approval notifications delivered via SMS within 30 minutes.
• Vay Ngắn Ngày (CAKE BY VPBANK) Vay Ngắn Ngày is a short-term loan product offered through Viettel Money in partnership with CAKE by VPBank, providing individual loans of 3 to 5 million VND with terms of 30 or 45 days and a maximum of one active loan at a time.

Quantifiable outcome

• Free money transfers between accounts with no maintenance fees
• +3 more outcomes

Named customers7 records

Segments3 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration8 records

Feature4 records

Partnerships

Ten partnerships are on record, tiered core and minor.

• VisacoreStrategic or Co-development Partner · 1 March 2025Viettel Digital partnered with Visa in March 2025 to expand the digital financial ecosystem and promote cashless payments. The partnership aims to enhance payment infrastructure and extend reach of digital financial services.
• Lotte CinemaminorChannel Partner/ Reseller/ DistributorViettel Money enables QR code payments for tickets, food, and merchandise at Lotte Cinema chain nationwide. Users can pay by scanning QR codes at POS.
• LazadacoreChannel Partner/ Reseller/ DistributorLazada allows users to link and pay with Viettel Money accounts. Partnership runs June 2023 - December 2023 with promotional offers including 100,000 VND discount for new Hanoi users and 5,000 VND discount for existing users on orders from 99,000 VND.
• TikiminorChannel Partner/ Reseller/ DistributorE-commerce platform enabling Viettel Money as payment method for online purchases.
• SendominorChannel Partner/ Reseller/ DistributorSendo (serving 12.5 million customers) partnered with Viettel Money enabling payment for purchases. Promotional offers included free delivery for orders and 50% discount on Sendo Farm orders.
• VosominorChannel Partner/ Reseller/ DistributorViettel ecosystem e-commerce platform enabling Viettel Money payment integration.
• VietmapminorChannel Partner/ Reseller/ DistributorVietmap Live Pro navigation service available for purchase on Viettel Money platform at rates starting from 1K/day.
• Easy CreditminorChannel Partner/ Reseller/ DistributorEasy Vay loan product (1-20 million VND) offered through Viettel Money app. Approval within 30 minutes via SMS.
• CAKE BY VPBANKminorChannel Partner/ Reseller/ DistributorShort-term loan product (Vay Ngắn Ngày) offering 3-5 million VND loans for 30 or 45 days, available on Viettel Money.
• Phố Hoa Tươi (Vietnam Flower Platform)minorChannel Partner/ Reseller/ DistributorFresh flower delivery service through Viettel Money app for occasions like teacher's day, birthdays, anniversaries, weddings.

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• VNPay: Vietnamese payment gateway and QR-payment network connecting banks, merchants, and consumers. A direct competitor to Viettel Money's payment gateway and merchant acceptance business.
• ZaloPay: E-wallet and payment gateway operated by VNG Corporation, integrated with the Zalo messaging super-app. Competes head-to-head with Viettel Money in Vietnamese consumer payments and merchant acceptance.
• Moca (Grab): Vietnamese payment wallet integrated with the Grab super-app for ride-hailing, food, and payments. Overlaps directly with Viettel Money on consumer payments and merchant acceptance.
• MoMo: Vietnam's leading e-wallet and super-app, owned by M_Service. Directly competes with Viettel Money in payments, bill pay, savings, lending, and merchant gateway services across Vietnam.
• ShopeePay: E-wallet tied to the Shopee e-commerce ecosystem in Vietnam. Competes with Viettel Money for digital payments, especially within e-commerce checkout flows.

Broad incumbents

• Paytm: Indian digital payments and financial services super-app. Comparable to Viettel Money on breadth of products (payments, savings, lending, insurance) at large consumer scale, though in a different geography.
• M-Pesa (Vodafone / Safaricom): Globally iconic telco-led mobile money platform. The reference model for telco mobile money services like Viettel Money's USSD-based Mobile Money accounts serving the unbanked.

Regional players

• TrueMoney: Telco-affiliated mobile wallet across Thailand, Vietnam, Cambodia, Myanmar, Philippines, Indonesia. Overlaps with Viettel Money's telco mobile money model in multiple Southeast Asian markets.
• OVO: Indonesian digital wallet backed by Lippo and Grab. Comparable to Viettel Money as a multi-product fintech super-app in Southeast Asia, though operating in a different market.
• GCash: Philippines' leading mobile wallet operated by Globe Telecom/Mynt. Closest regional analog to Viettel Money's telco-led mobile money model, though serving the Philippines rather than Vietnam.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCOv5y2zBfWp9gHAQsWJD2Bg
• Facebookfacebook.com/ViettelMoney
• TikToktiktok.com/@viettelmoney
• Xx.com/viettel_money

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Viettel Money