Vietnam’s police-owned telecom operator, Mobifone Telecommunications Corporation, has officially launched MobiFone Digital Payments Joint Stock Company (MDP), a next-generation digital payments platform and digital infrastructure provider, according to an announcement.
Headquartered in Hanoi, MDP was licensed by the State Bank of Vietnam on November 27, 2025, to provide intermediary payment services, including financial switching, electronic clearing, payment gateway services, and collection and payment support.
“Launched at a pivotal moment as Vietnam enters a new phase of development, in line with the strategic direction set by the 14th National Party Congress, and backed by MobiFone Telecommunications Corporation, MobiFone Digital Payments Joint Stock Company is well-positioned to capture emerging opportunities and accelerate its growth in the payments space. This comes as the banking sector, and the payments landscape in particular, are undergoing rapid transformation, driven by continuous innovation towards a more modern and professional economy,” said Nguyen Ngoc Canh, Deputy Governor of the State Bank of Vietnam.
MDP has already established partnerships with more than 20 member institutions, including leading Vietnamese banks and financial institutions, marking a significant step forward in building a comprehensive digital payments ecosystem in Vietnam.
Prior to its launch, MDP also signed a Memorandum of Understanding (MoU) with the National Payment Corporation of Vietnam (NAPAS) to explore and implement interconnection models between the switching systems, which would further contribute to a modern, synchronised, secure, and flexible national payment infrastructure.
Looking ahead, MDP will continue expanding its partnerships with banks, technology firms, fintech companies, and ecosystem partners to develop a diverse, convenient, and secure digital payment ecosystem for Vietnam.
