Momo mobile money

     
Online payment in Vietnam giới was booming in 2019, especially with huge foreign capital investment in and hundreds of Fintech companies’ emergence. But what’s more impressive? — There is a digital wallet that has changed the face of thiết bị di động payment called Momo. With a series of great đơn hàng like cashbaông xã, discounts, gift vouchers,…, Momo Super App is that all-in-one application you can’t resist using!

In fact, the digital payment sector of Vietphái nam has seen remarkable growth lately. From 2016 khổng lồ 2018, the number of fintech companies operating in Vietnam giới increased from 40 khổng lồ nearly 100, including 26 intermediary payment service providers. According to lớn Statista, the total transaction value in the Digital Payments segment is estimated to lớn amount to lớn US$10,073 million in 2020.

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The e-wallet Smartphone payment is blooming in the scene, too. According khổng lồ the State Bank of Vietnam giới (SBV), the value of e-wallet transactions in 2017 reached a total value of VND 53.1 trillion (USD 2.3 billion). For the time being, about 30 Vietnamese fintech companies have been granted licenses khổng lồ provide intermediary payment service, mostly e-wallets.

Since the competition aý muốn e-wallets is getting stiffer, Momo E-Wallet is making its own moves away from the overarching preference for cash in the country. Providing great benefits to lớn both customers and suppliers, Momo super phầm mềm is now common not only in Vietphái mạnh, but also in top innovative sầu fintech companies in the world!

If you are wondering what is Momo or how does Momo become a super wallet, here’s a look at this Vietnam di động wallet!

What is Momo?

Momo E-Wallet provides all điện thoại thông minh users with one-touch online payment solutions with hundreds of services. Not limited khổng lồ money transfer, Momo digital wallet expands into lớn bill payments as well as areas like movie tickets, airline flights, etc.

Momo Super App

Following the successful Asian tech players lượt thích Tencent’s WeChat, Indonesia’s Go-Jek & Singapore’s Grab, MoMo has rapidly developed into lớn a lifestyle “super-app”. Today, it attracts up khổng lồ 10,000 partners varying in different fields such as consumer finance, insurance, e-commerce, shopping and transportation.

More than 100 “mini-programs” are secured in Momo now. Momo Super App presents an opportunity lớn give consumers a more immersive sầu experience. Without downloading any external app, users can send money or pay bills, buy insurance policies, pay for goods at more than 100,000 payment points across Vietnam giới.

★ For example, you come lớn Starbucks khổng lồ get a coffee, wouldn’t it be easier & more efficient to lớn buy just using a smartphone?

Through Momo QR code, you can scan, edit the price and then purchase. So handy right? Anything that helps shorten your wait at Starbucks. What’s more? — Momo E-Wallet often gives you plus cashbaông xã points toward your bill.

Top 50 Global Fintech Innovators

MoMo has achieved tremendous success during the past 12 years. For its achievements, Momo is the only Vietnamese representative in the ‘Leading 50’ category. This is the first time a Vietnamese company has broken inlớn this special group, positioned 36th. According lớn the Fintech 100 report, MoMo grosses over 8 million customers and a growth rate of 15% in monthly transaction volume & user base.


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In the nation, M-Service’s MoMo mobile payment phầm mềm is the undisputable leader with an estimated 10 million users! Earlier this year, Vietnam’s beloved e-wallet secured huge funds from big-name investors — through Series C funding round, led by Warburg Pincus. The investment was in the region of $100 million, making it one of the largest single rounds ever raised by a Vietnamese startup. According to lớn its CEO, Pmê man Tkhô hanh Duc, this funding is “game-changing” for the company.

The company posted its largest ever transaction volume & number of active sầu users.

How does Momo become Super Wallet?

Besides exploiting giant customer database, investors are also looking forward to lớn the “super-app” vision of MoMo. Since this e-wallet will meet all daily behaviors through the payment features namely savings, gas stations, schools, hospitals, etc. That is a key infrastructure that empower Momo in growing inlớn an all-in-one everyday super tiện ích.

Momo Super Wallet is present in everyday life. People can take a taxi in the morning lớn the office và pay with Momo super app. Users also pay for lunch, buy goods at supermarkets, book cinema tickets & make payments through the e-wallet. Momo is there one way or another.

Momo — The leading E-Wallet

Digital wallet is gradually becoming an inevitable trend. Statistics from Ministry of Industry & Trade claimed that: “Vietnam is one of the countries with the highest growth in e-payment in the world, with a rate of about 35% per year.”

In recent Super Cashbachồng Day event, Momo Super App has achieved impressive sầu numbers. After just one day, Momo wallet was ranked as Top 1 downloaded free phầm mềm on iOS App Store and Top 3 on Android’s Google Play Store. Suddenly increasing in downloads, this online e-wallet is changing the payment habit of Vietnamese consumers.

Key Takeaways:

MoMo has big advantages with 12 million users, 12,000 partners, 100,000 POSMoMo was voted the most popular electronic wallet in Viet Nam in 2019.Has raised $133.8M funding over 3 rounds of fundraising.The company partners with 24 domestic banks and foreign payment networks so far, including MasterCard & Visa.

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MoMo’s ecosystem has been applied in various areas such as consumer finance, insurance, money transfers, utility payments, entertainment, e-commerce, shopping, transportation, và F&B. Mr. Nguyen Manh Tuong, MoMo’s Executive sầu Vice Chairman, believes that Vietphái nam is entering its next stage of growth.

“MoMo is committed to realizing that vision by accelerating the adoption of digital payments and enabling equal opportunities for all Vietnamese lớn benefit from the digital economy,” — Mr. Tuong said.

MoMo will also continue khổng lồ invest in công nghệ, including in areas such as AI, security & big data capabilities, in order to lớn deliver innovative financial services solution & serve the unmet needs of consumers.

E-Wallet market battle in Viet Nam

The online payment market in Vietnam giới has great potential, và now is the ‘golden time’ for e-wallets khổng lồ develop. According lớn the State Bank of Vietnam giới, there are 30 businesses have been granted licenses lớn provide e-wallets. But only four of them have a higher number of transactions, including MoMo, ZaloPay và AirPay.

In Vietphái mạnh, dozen of e-wallet players are fighting for a piece of the market. As for AirPay, the e-wallet is the sản phẩm of Vietphái mạnh Esports, backed by SEA Group. AirPay in Vietphái mạnh not only has an ecosystem from Shopee, but also benefits from customers who buy game cards from Garemãng cầu and order food online via Now.

ZaloPay, a well-known name in Vietphái mạnh, was cited as a diverse Smartphone wallet ecosystem that includes different types of services. ZaloPay enables online payment for electricity, water, mạng internet và TV as well as money transfer via QR code, etc.

With lots of potentials, the battle of “super applications” will be increasingly competitive sầu & attractive in the near future. Digital wallets regularly update information about users và new services. But, they never issue reports about profits.

Most e-wallets are still taking losses and are trying khổng lồ familiarize people with non-cash payments.

Will M_Service’s Momo make history like WeChat? Will ZaloPay continue to succeed as it did on the ride front? Or will Airpay go baông chồng and forth? — Time will tell all.

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