Photo credit: MoMo
Grab Vietnam has integrated MoMo, a local e-wallet and payments app, into its cashless solutions.
This means that the firm’s payment solutions are now available within the Grab app for Vietnamese users, including its e-wallet service, linked bank accounts, and its buy now, pay later offering.
Last year, MoMo established a similar tie-up with Grab rival Gojek. It has also partnered with other major names such as Western Union and Apple.
As Tech in Asia previously reported, MoMo recorded US$355 million in revenue for 2022, growing 18% year on year. This came with a 45.7% increase in gross profit over the same period.
Vietnam’s digital economy is on track to reach US$45 billion in gross merchandise value by 2025, according to the latest e-Conomy SEA report.
See also: VN fintech unicorn MoMo’s revenue grew 18% to top $355m in 2022
Editing by Thu Huong Le and Lorenzo Kyle Subido
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