TrueMoney Vietnam has secured the intermediary payment services licence from the central bank of Vietnam to operate e-money, e-payment, wireless transfers, and payment gateways services in the country.
TrueMoney, a unit of Ascend Money, processes over one million transactions monthly.
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Following the receipt of the licence, TrueMoney Wallet can be used by the consumers to make online purchases, bill payments along with pre-paid mobile and gaming cards top-up.
The wallet can also be used to transfer money from bank accounts and to other wallets and will serve a payment gateway for online and offline merchants.
The company also plans to add payroll disbursement capability to the wallet later on.
TrueMoney Vietnam operates through a network of over 5,000 agents. The company also intends to launch loans and insurance services in the second quarter of this year.
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By GlobalDataApart from Vietnam, TrueMoney has e-money licences in Thailand, Myanmar, Indonesia, Cambodia and Philippines.
