Netstars Vietnam Co., Ltd., a member of multinational fintech startup Netstars, signed a collaboration agreement with Mobile Online Services JSC (M service) in early December 2021.
The collaboration agreement signed by Netstars Vietnam and M service – a leading fintech company that offers MoMo App in Vietnam – aims to promote non-cash payment services and digital merchant tools for grocery stores in Vietnam. While Netstars has the biggest market share in multi QR payment solutions in the Japanese market, its local arm has also integrated with most leading banks and e-wallets in Vietnam, accepting payment for more than 80 per cent of mobile banking and e-wallet applications from the market.
|Along with payment solutions, Netstars Vietnam also provides a smartphone-based shop management APP Tete Shop for grocery stores with more than 10,000 registered shops. |
Along with payment solutions, Netstars Vietnam also provides a smartphone-based shop management APP Tete Shop for grocery stores with more than 10,000 registered shops.
Amid the COVID-19 pandemic, most traditional business activities are being affected. The partnership intends to enable grocery stores to easily receive payments both online and offline via the Tete Shop service. This will help merchants to reduce the risk of COVID-19 infection. Currently, MoMo has more than 25 million users in Vietnam and this partnership will also help MoMo users more conveniently shop safely amid the pandemic.
Netstars Vietnam has demonstrated its commitment to constantly developing products to bring professional solutions to grocery stores and its passion to contribute to the development of Vietnamese society.
The two parties also plan to work closely together to promote and expand Tete Shop and MoMo super app to remote, rural, and isolated areas with the goal of helping 1.4 million grocery stores in Vietnam access digital transformation.