Grab has added ZaloPay, the financial services arm of internet firm VNG, as its latest cashless solution in Vietnam.
Photo credit: ZaloPay
The digital wallet will be available for Grab Vietnam’s services including transportation as well as food, grocery, and parcel delivery. The super app also supports cash and other cashless solutions through its e-wallet Moca and payments through linked cards.
This partnership is a notable development since ZaloPay and Moca were previously considered competitors in the e-wallet war.
ZaloPay is a standalone mobile payment app that has partnered with Visa, Mastercard, and 39 domestic banks. It’s also an integrated offering baked into Zalo – a messaging app boasting 71 million users in Vietnam as of July 2022.
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In a previous interview with Tech in Asia, Zalo COO Nguyen Cong Chinh said the company’s not looking to create a super app any time soon despite VNG’s wide reach across multiple verticals.
He added that the chat platform has been profitable since 2020 but didn’t provide further specifics.
Editing by Thu Huong Le and Dhania Putri Sarahtika
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