Grab taps MoMo’s solution to offer cashless payment experience

By Gloria Mathias

 MoMo, Vietnam’s FinTech unicorn, and Grab Vietnam have announced the integration of MoMo’s payment solution into the Grab app.

MoMo users who wish to make payments on the Grab app can easily access and manage their funds from various sources available on the MoMo app. This includes MoMo e-wallets, linked bank accounts, and MoMo Pay Later, a product in the local market that aligns with the global trend of ‘Buy Now Pay Later’.

This partnership aims to provide users with a secure and hassle-free cashless payment experience. Also, it allows the two brands to become more integrated into the everyday lives of local consumers.

With this partnership, MoMo has been available on the most popular platforms, serving Vietnamese users with daily needs of shopping, entertainment, travel, e-commerce, insurance, public services payments, etc. For Grab, this integration enables the super-app to further expand its portfolio of cashless payment solutions on the platform to maximise convenience for Grab users.

Alejandro Osorio, CEO of Grab Vietnam said, “‘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.”

Nguyen Manh Tuong – Executive Vice Chairman, CEO of MoMo, said: “It’s great to see this partnership happening. We believe the open ecosystem of MoMo serves as a key for augmenting values for consumers. Not only serving as a payment solution or providing financial services, but we’ve also built our app to meet the local market demand for diverse quotidian services. The team-up of Grab and MoMo brings in a comprehensive digital experience for the locals. In a very potential market with rapid digital transformation, this partnership will help both sides leverage opportunities and create greater value for users and business entities.”