MobiFone Digital Payments Joint Stock Company has launched in Vietnam with plans to develop digital payment infrastructure in the country.

The Hanoi-based company is backed by MobiFone Telecommunications Corporation.

It is licensed by the State Bank of Vietnam to provide intermediary payment services covering financial switching, electronic clearing, payment gateway services, and collection and payment support.

MDP has already partnered with more than 20 member institutions, including Vietnamese banks and financial institutions, and announced a collaboration with Visa at its launch event.

Prior to its official launch, MDP signed a MoU with the National Payment Corporation of Vietnam, or NAPAS, to explore possible interconnection models between their switching systems.

The move is aimed at supporting a more coordinated and secure national payment infrastructure.

MDP received its licence from the State Bank of Vietnam on 27 November 2025.

The company said it will continue expanding partnerships with banks, technology firms, fintech companies, and other ecosystem players as it grows its presence in Vietnam’s payments market.

Phan Thanh Son, CEO of MDP, said,

“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.

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.”

Featured image: Edited by Fintech News Singapore, based on image by Phan Thanh Son via LinkedIn