Grab and MoMo Partner for Enhanced Digital Payments in Vietnam
Southeast Asian super-app Grab has partnered strategically with MoMo to enhance its digital payment ecosystem in Vietnam. This collaboration will integrate MoMo’s e-wallet service, linked bank accounts, and a buy now, pay later feature into the Grab app.
Grab operates a wide range of services, including deliveries, mobility solutions, and digital finance, across eight countries. MoMo, a Vietnamese fintech unicorn, provides super-app and payment services. Collaborations and partnerships have been a vital component of Grab’s growth strategy, with previous alliances with prominent entities like Western Union and Apple.
Alejandro Osorio, CEO of Grab Vietnam, expressed his enthusiasm about the partnership, stating,
‘We welcome MoMo to our super-app platform. MoMo’s entry will provide our consumers with yet another payment option, making cashless payments on the Grab app even easier for our users. As part of our continued commitment to contribute to Vietnam’s digitalisation, Grab and MoMo will launch exciting and practical offers to users from both of our platforms. We believe this will encourage more MoMo users to experience and benefit from Grab’s reliable and relevant everyday services.”
The e-Conomy SEA report forecasts Vietnam’s digital economy to reach a $45 billion gross merchandise value by 2025.
Nguyen Manh Tuong, CEO of MoMo, said,
“In a very potential market with rapid digital transformation, this partnership will help both sides to leverage opportunities and create greater values for users and business entities,” said Nguyen Manh Tuong, CEO of MoMo.
Notably, early users who select MoMo as their preferred payment option will enjoy benefits worth up to VND 100,000.
