Headquartered in Hanoi, MobiFone Digital Payments Joint Stock Company (MDP) has officially launched, marking a significant milestone in the transformation of Vietnam’s payments landscape. Backed by MobiFone Telecommunications Corporation, the next-generation digital payments platform is positioned to serve as a comprehensive digital infrastructure provider for the nation.
Licensed by the State Bank of Vietnam November 27, 2025, MDP is fully authorized to provide a suite of intermediary payment services in compliance with the country’s regulatory frameworks. These licensed capabilities include:
The company’s core mission is to lead the development of Vietnam’s fourth-generation national payment infrastructure. By establishing this new technological platform, MDP aims to enable seamless connectivity across banks, financial institutions, enterprises, and digital ecosystems, laying the essential foundation for the next era of digital payments in the country.
Strategic partnerships and global endorsement
MDP has already made significant strides in building a comprehensive digital payments ecosystem, having established partnerships with more than 20 member institutions, including leading Vietnamese banks and financial entities. Furthermore, a collaboration with Visa was announced at the launch event, underscoring the strong endorsement the platform has already received from major global partners.
Prior to its official launch, MDP also signed a Memorandum of Understanding (MoU) with the National Payment Corporation of Vietnam (NAPAS). This agreement aims to explore and implement interconnection models between their switching systems, a move that will further contribute to a modern, synchronized, secure, and flexible national payment infrastructure.
Industry and regulatory perspectives
The launch ceremony in Hanoi was attended by key stakeholders, including representatives from Vietnam’s Ministry of Public Security, the State Bank of Vietnam, and various domestic and international partners across the digital finance ecosystem.
Nguyen Ngoc Canh, deputy governor of the State Bank of Vietnam, highlighted the critical timing of the launch as the banking sector undergoes rapid transformation.
“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,” Canh stated.
Bui Son Nam, chairman of MDP, emphasized the strategic vision driving the new enterprise. He noted that the company aims to build an open and flexible payment technology platform, with strategic alliances acting as a key growth lever. Nam added that this vision is underpinned by three core values: Technology to develop modern platforms, Innovation to continuously create new solutions, and Trust to ensure every transaction is secure and transparent.
Phan Thanh Son, CEO of MDP, expanded on the company’s ambitions for the wider region.
“With a modern technology foundation and an open collaborative approach, MDP aspires to build a new digital payments infrastructure for Vietnam, one developed by Vietnamese, operated to international standards, and seamlessly connected with both domestic and global financial ecosystems,” Son explained. “We believe that when banks, technology companies, and partners collaborate on a shared platform, Vietnam’s digital payments market will grow faster and more sustainably, while gradually enhancing the country’s position within the regional digital economy ecosystem.”
Looking ahead, MDP plans to continuously expand its partnerships with technology firms, fintech companies, and ecosystem partners to develop a diverse and secure digital payment environment for Vietnam.
