Assess the impact of mobile money services on the development of financial inclusion in Vietnam and some recommendations

Abstract

Today, mobile money has become an extremely useful tool, facilitating the access to financial
services of disadvantaged or financially excluded groups in developing countries. However, there has not
been much research on the relationship between mobile money services and financial inclusion development
in Vietnam. Based on research overview and survey results of 10,248 people in some areas in Vietnam during
the period from 2022- 2023, this article builds a quantitative model to evaluate the impact of mobile money
services on financial inclusion (FI) in Vietnam in three criteria: (i) Financial Service Access, (ii) Financial
Service Using Frequency, (iii) Financial Service Using Value. Research results show that the widespread
adoption of mobile money helps to reduce transaction costs, stimulate consumption, reduce risks for users,
especially contributing to promoting financial inclusion. From there, the article provides valuable insights and
recommendations for policy makers and researchers to use mobile money for socio-economic growth in the
context of global integration.