There has been a lot of discussions about an upcoming e-payment service in Vietnam called MobiVi (the link seems to be dead at the point of my writing). Looking at its board of management, we can hardly fail to notice the well-connected heavyweights of Vietnam’s internet field including Trung Dung and Kien Pham.

With its rich combination of startup experience, Silicon Valley experience and C-level network, we can’t wait to see how MobiVi rolls out. Some other prominent e-payment players in Vietnam include VinaPay, a joint venture between IDG Ventures Vietnam and Net1, VinaGame top-up cards and PayPal (do I miss anything?).

One big challenge of Vietnam’s e-payment solutions has been the low use of bank accounts and credit cards. But I think precisely because of this deficiency, whoever can capitalize on the popularity of internet and cell phone users will win big. Restraint breeds innovation, challenge creates opportunity. Plus, who says the future e-payment giants use their leverage to enter the competitive yet extremely lucrative banking war.

Will one of these players become an ultimate winner, aka the PayPal version of Vietnam? Or there will be a few players serving different market segments? One thing is for sure: the winning e-payment service will be a blessing for all of us, internet users, all online businesses and Vietnam. Let’s keep our fingers crossed!