Hanoi (VNA) – An international workshop on mobile money to promote financialinclusion was held by the Ministry of Information and Communication (MIC) inHanoi on May 23.

Thetwo-day event is designed to provide a comprehensive view on mobile money, atechnology that allows people to receive, store and spend money using a mobilephone.

It also sharesexperiences and lessons from the implementation of the service in many countriesworldwide, as well as put forward recommendations for Vietnam in a bid toenhance the country’s financial inclusion and support its digital transition.

Addressingthe event, Minister of Information and Communication Nguyen Manh Hung said ifVietnam approves trial run of Mobile Money in 2019, the country will be the 91stnation operating the service in the world.

By theend of 2018, nearly 900 million people in 90 nations use Mobile Money, doingtransactions worth 1.3 billion USD per day, he noted.

The minister added that mobile money will be a solution that stronglypromotes cashless payment and help poor people in mountainous and remote areasaccess paid services on the Internet, including health, education, finance,jobs and social welfare, among others.

Participantsof the workshop also discussed challenges, risk management, legal issues ofmobile money, the implementation of mobile money in some countries, experiencesof foreign managers and businesses, along with firms’ solutions in the digitalpayment revolution in Vietnam.

Only about 40 percent of the country’s 95million people have bank accounts, mostly in urban areas, while there arearound 120 million mobile phone subscriptions. -VNA