MoMo

Update news MoMo

Recruiting and using talents is a policy being pursued by MoMo, a new Vietnamese unicorn (a privately held startup company valued at over $1 billion).

E-wallets losing money as customers switch brands frequently

People are installing up to 10 e-wallets on their smartphones, but are only using them during sale promotion programs.

Grab, MoMo enter e-commerce playing field

Grab and MoMo are veterans in their core business fields, but they are the newcomers in the e-commerce market.

Banking transactions, mobile payments grow sharply in Vietnam in first four months

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).

E-wallet companies spend big money to beat rivals

‘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.

Are fintechs in Vietnam mostly e-wallets?

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.

Tech companies looking global

Local tech platforms and startups aim to take on the world but doing so won't be easy.

Banks, fintech firms promote cashless payments during epidemic

To prevent the spread of the new strain of coronavirus in Vietnam, customers are encouraged to adopt cashless payment methods.

Payment service providers fight for users

It was 2 pm at a fashion shop on Thai Ha street in Hanoi and customers were waiting to make payments with their mobile phones.

The 2019 digital payment panorama

MoMo speeded up, Moca made a high jump with the support of the holding company, and VinID Pay extended beyond Vingroup ecosystem.

Can e-wallets make a profit in Vietnam?

More and more players have joined the e-wallet sector, but all of them understand that they cannot expect big profits at this moment.

Alibaba’s Ant Financial quietly acquires stake in Vietnamese e-wallet firm

Ant will not control more than 50% of eMonkey, but is expected to have significant influence and provide technical expertise to the e-wallet

Vietnam named second in ASEAN in fintech funding in 2019

Vietnam’s fintech firms secured two of the top three largest funding deals in ASEAN in 2019.

E-wallets fight for VN market share

Twenty eight e-wallets have been licensed, but 80 percent of market share belongs to only five of them, according to the State Bank of Vietnam (SBV).

The $9 billion dollar market for fintechs

Investment in fintechs has been increasing rapidly in Vietnam. Fintechs, once considered an arch enemy of banks, are cooperating closely with banks.

Investors keep pouring money into e-wallets despite losses

Most e-wallets are taking losses, but they are still calling for capital from foreign investors.

Momo jumps 48 places in the Fintech100

Vietnamese electronic wallet and payment application Momo jumped 48 places to sit at 36th in the top 100 global innovative fintech firms this year.

Costly investment required to entice Vietnamese QR code users

E-wallet firm MoMo launched a cashback programme on November 3 with value of up to 100,000 VND (4.30 USD) per transaction and for four transactions daily at most.

E-wallets still competing for slice of the payment pie

Ewallets are still not reporting profits, though they have been making heavy investments in their businesses.

Which road will fintech take?

According to PricewaterhouseCoopers, fintech startups have attracted $40 billion worth of investment over the last four years. Asia Pacific alone received $15 billion worth of investment in fintechs in 2018.