Uber and Vietnam’s number one fintech firm shake hands on strategic alliance

The signing ceremony of the strategic partnership agreement between Uber and MoMo on Noverber 29

Consequently, this alliance will likely deliver a never-before-seen transportation service by fusing taxi-hailing with a cashless payment method supported by Vietnam’s leading mobile e-wallet firm.

Prior to this co-operation with MoMo, Uber Vietnam offered three main payment methods: cash, credit card (including MasterCard and Visa) and debit card, as well as Android Pay exclusively for Android users.

Thanks to the participation of MoMo, from now on, Uber subscribers will be spared the hassle of connecting their existing banking accounts with the payment option in the digital application. MoMo’s e-wallet would enable synchronised payments and save a substantial amount of time for Uber’s customers.

Saad Ahmed, Uber's head of strategic initiatives and business development for the Southeast Asian region, talking about new horizons opening through this partnership

Previously, on November 15, MoMo made a long-term commitment with taxi firm Vinasun to provide a smart and cashless taxi-riding experience.

Also on November 15, VietinBank officially shook hands with MoMo e-wallet to accelerate mobile transactions, especially for members of the domestic credit programme called E-Partner, which is now directly linked with MoMo.

Earlier, in 2015, MoMo partnered with Standard Chartered to launch the Straight2Bank wallet payment in Vietnam, which allows corporations, authorities, and organisations to conduct cashless transactions with either banked or unbanked individuals.

To date, MoMo electronic wallet could receive deposits from accounts at 11 banks and via international cards and can enable topping up at more than 5,000 MoMo transaction points within Vietnam’s territory.

MoMo is Vietnam’s top mobile e-wallet and over-the-counter remittance and payment platform. After a successful introduction in Vietnam, MoMo has made its way to overseas markets, such as the Philippines, Bangladesh, and Kenya. MoMo delivers virtual payment services, such as money transfer, bill payments, collection and disbursement, and mobile commerce.

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