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In August 2019, Grab once again showed it wanted to ‘play big’, announcing the investment of another $500 million in Vietnam to develop fintech solutions, mobility technology and logistics. Meanwhile, Moca, thanks to the strategic cooperation deal with Grab, got support from international investors and financial companies. Prior to that, in March 2016, the ewallet received $28 million from Standard Chartered Private Equity and Goldman Sachs. It did not declare the exact figure, but said this was the highest investment deal ever committed by a foreign fund for a fintech in Vietnam. In January 2019, MoMo successfully called for capital for the third time from Warburg Pincus.
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Zalo offers cinema tickets at nearly zero dong, while Moca offers a series of preferences to those who pay for essential services on GrabĮven during Covid, Moca offers huge preferences to users who book food and drink services, or use payment delivery and shopping services.Īnalysts believe that ewallets' investments can partially show their financial capability.
![ewallet companies ewallet companies](https://i1.wp.com/zinggadget.com/wp-content/uploads/2020/02/%E6%9C%AA%E4%BE%86.png)
MoMo is willing to give hundreds of thousands of dong to people who can introduce new users. MoMo, Moca and ZaloPay, the three biggest players, have become known after many years of spending big money on programs to lure new users and retain existing users.
#Ewallet companies plus
E-wallets have to regularly run promotions to catch users’ attention and increase their presence in the market.Īnalysts say that the positioning of e-wallets in Vietnam is determined by the spending of e-wallets on promotion programs.Ī recent survey by Cimigo found that the development of e-wallets with a friendly easy-to-use interface plus diverse and regular promotion programs help brands increase their competitiveness in the Vietnamese market. However, these are not enough to lure users. Connections with bank accounts, free cash withdrawal and remittance, and non-cash payment for bills are the most common services that e-wallets offer to users.