HO CHI MINH CITY, Vietnam, Nov. 1, 2023 /PRNewswire/ -- MoMo, Vietnam's fintech unicorn, and Grab Vietnam today announced the integration of MoMo's payment solution into the Grab app. Consumers in Vietnam will now have the option to use MoMo for cashless payments within the Grab app, making their digital experiences of everyday services even more convenient.

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-wallet, linked bank accounts and MoMo Pay Later - a pioneering 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 hasslefree cashless payment experience. Also, it allows the two brands to become more integrated in the everyday life 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 payment, etc. Using just a certain convenient app, MoMo users can perform One Touch Payment to fulfill almost all everyday needs anytime and anywhere.

For Grab, this integration enables the superapp to further expand its portfolio of cashless payment solutions on the platform to maximise convenience for Grab users. Grab now offers a large variety of cashless payment options from linked cards to e-wallets provided by leading fintechs in Vietnam.

Mr. Alejandro Osorio, CEO, Grab Vietnam said: "'We welcome MoMo to our superapp 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."

Mr 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, we've 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 to leverage opportunities and create greater values for users and business entities."

To celebrate the launch of MoMo as a payment option on the Grab app, early adopters who choose MoMo for payments will receive special benefits worth up to VND 100,000.

About Grab

Grab is a leading superapp in Southeast Asia, operating across the deliveries, mobility and digital financial services sectors. Serving over 500 cities in eight Southeast Asian countries - Cambodia, Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam - Grab enables millions of people everyday to order food or groceries, send packages, hail a ride or taxi, pay for online purchases or access services such as lending and insurance, all through a single app. Grab was founded in 2012 with the mission to drive Southeast Asia forward by creating economic empowerment for everyone, and strives to serve a triple bottom line: to simultaneously deliver financial sustainability and have a positive social and environmental impact in Southeast Asia. (www.grab.com)

About MoMo

MoMo is a Vietnamese Fintech unicorn, provides super-app and payment service and is one of the fastest growing and largest fintech apps in the world. Our mission is to improve the life of Vietnamese people and merchants by using technology to give them access to superior, simpler and affordable financial solutions and daily services. Our award-winning super app platform is trusted and loved by millions of users and merchants for its ease of use, product design, and compelling ecosystem of partners. MoMo has over 2,000 employees and is headquartered in Ho Chi Minh City with offices in Hanoi and Danang. For further information please visit: www.MoMo.vn