Vietnam Online Trading Services Joint Stock Co. (VNO) on Thursday introduced e-wallet WebMoney Vietnam (WMV) to help customers access online payment services globally.

The product allows customers to pay electricity and telephone bills, do the online shopping and transfer money. Customers can also use the product to withdraw money at banks associated with VNO or WMV agents.

VNO managing director Nguyen Thieu Quang said the product plays an intermediary role in transactions and does not solve disputes between the buyer and the seller.

“To protect buyers, WMV will freeze buyer accounts for three days and transfer money to seller accounts if no disputes occur,” Quang explained.

Customers can put money into the e-wallet via bank accounts or scratch cards. However, they will be subjected to 1-2% charges for scratch cards and transaction fees of around 0.8% for online shopping.

VNO has cooperated with service providers to give 5% to 10% discounts for customers using the product, Quang added.

During the introduction ceremony, the enterprise signed cooperation deals with five companies – Toc Do Trading, GaPit Communication, Brilliant Chip, Green Mobile and Naiscorp – to connect to their websites.


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