Latest News about e-wallet
“Do you accept payment with MoMo?” “Yes” is the question one can hear at many restaurants and supermarkets in HCM City.
The payment market is expected to see big changes with the appearance of Mobile Money.
People are installing up to 10 e-wallets on their smartphones, but are only using them during sale promotion programs.
Vietnamese are making more payments with QR Code thanks to its utility, security and promotion programs launched by service providers.
E-wallets firms are battling for a piece of the cashless payment market amid rapid growth in the context of the COVID-19 pandemic.
E-wallet service providers want to extend the deadline for users to complete identity verification.
The number of e-wallet users completing identity verification surged ahead of the July 7 deadline, according to e-wallet firms.
icon SCI-TECH & ENVIRONMENT
Hanoi is often scorching hot at midday when Nguyen Phuong Ha is waiting for her lunch with her co-workers in a crowded restaurant.
Non-cash payments continue to boom in Vietnam this year as the country has seen a surge in banking transactions and mobile payments in the first four months of the year, according to an official from the State Bank of Vietnam (SBV).
Deputy Governor of the State Bank of Vietnam Dao Minh Tu has said July 7 is the deadline for e-wallet owners to complete the identity verification.
Despite the impact of the COVID-19 pandemic, the retail market in Vietnam in the first quarter of this year still recorded positive results from e-commerce, online shopping and delivery services.
‘Bleeding money’ is the strategy that all the three biggest players – MoMo, Moca and ZaloPay – have been using to gain part of e-wallet market share.
Hefty sums found their way to Vietnamese e-wallets from diverse partners during the year, turning the segment into one of the investment hotspots.
The investment capital poured into Vietnam’s fintechs in 2019 accounted for 36 percent of total capital into Southeast Asia. The figure was zero percent in 2018.
Investment funds had poured $410 million into Vietnam’s fintechs as of the end of September 2019, according to a report of PricewaterhouseCoopers, United Overseas Bank and Singaporean Fintech Association.
The State Bank of Vietnam (SBV) plans to set no limit on foreign ownership in fintechs.
The State Bank of Vietnam (SBV) has removed a regulation capping foreign ownership at 49% for local payment intermediaries from a draft decree on noncash transactions.
The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.