South Korea’s Woori Bank is collaborating with the Vietnam’s mobile banking service provider M-Service to strengthen its presence in the Southeast Asian financial market. Woori Bank has opened over 200 global financial service outlets, with two offices already in Vietnam – Hanoi and Ho Chi Minh City. The bank is expected to enter into a MoU with M-Service to develop and market a mobile money transfer service. M-Service is a leading wireless payment firm in Vietnam with 1 million subscribers and about 4000 offline channels. The bank expects to launch the mobile money transfer service that will allow users – targeting Vietnamese employees working in Korea and their family members in Vietnam – to send and receive money through the bank’s own mobile banking service platforms WiBee Bank and WiBee Talk, only using mobile phone numbers. In addition, a mobile payment service through M-Service’s mobile wallet Mo-Mo will also be introduced later.
