Singapore-based mobile technology company Tagit in collaboration with Vietnamese payment switch operator Smartlink has introduced aggregated mobile banking service, which will benefit 51 banks in Vietnam and millions of mobile users.
The partnership is expected to provide new growth opportunities for the mobile payments ecosystem.
More than 40 million domestic bankcard holders and 120 million mobile users will be benefited when Smartlink jointly will implement mobile services with its member banks across the country.
The new mobile banking platform enables payment networks to implement robust, scalable and secure mobile technologies, thus helping banks to provide new mobile services in a timely and cost-effective manner.
Tagit president and business development head Navtej Singh said, "By connecting with payment switch networks like Smartlink, Tagit’s mBanking platform will be quickly made available to all network member banks."
The first member bank to launch Tagit’s mobile banking service is Vietcombank, which allows customers to perform core banking transactions such as account information inquiry and funds transfer, among others.
Established by a consortium of Vietcombank and 15 other banks, Smartlink manages an information processing system that links up with 51 banks, financial institutions, insurance companies, among others.