Việt Nam News

MoMo leads in e-wallet market: poll

July 20, 2019 - 08:15

MoMo was voted the most popular electronic wallet in Việt Nam in 2019 in a poll conducted by Nhịp Cầu Đầu Tư (Investment Bridge) magazine.

Nguyễn Bá Diệp (L), executive vice chairman and founder of MoMo, received a certificate for the most popular electronic wallet in Việt Nam in 2019. Photo courtesy of the organiser

HCM CITY – MoMo was voted the most popular electronic wallet in Việt Nam in 2019 in a poll conducted by Nhịp Cầu Đầu Tư (Investment Bridge) magazine.

The results were based on statistics from 20 e-wallet developers and 1,190 votes from the magazine’s readers in the last five months.

The voting was based on identification and dissemination, most favoured and trusted electronic wallet, ability to connect and expand with the banking system and providers, convenience in transaction and use of apps, and safety.

Đặng Nhật Minh, editor-in-chief of Nhịp Cầu Đầu Tư, said: “The growth of information technology has led to the development of e-commerce payments and online shopping. So e-wallets are more popular now. They are safe, convenient and time saving.”

“The poll also aims to boost the development of e-wallets and build a sustainable platform for e-commerce payments in Việt Nam,” Minh said.

MoMo, owned by Di Động Trực Tuyến Services Joint Stock Company, has an estimated 10 million users.

Nguyễn Bá Diệp, executive vice chairman and founder of MoMo, said mobile payments saw a year-on-year increase of 60-70 per cent in the number of users.

Diệp said there were around 30 e-wallet service providers in Việt Nam, but only four of them have a high number of transactions, including MoMo, ViettelPay, ZaloPay and Moca.

Diệp also said e-wallet service providers in Việt Nam had worked hard to ensure security to protect themselves and customers.

ZaloPay, developed by VNG Corporation, was cited as a diverse mobile wallet ecosystem that includes different types of services.

ZaloPay enables electronic payment for bills such as electricity, water, internet and TV as well as money transfer via QR code and connections with bank accounts for cash withdrawals or charges.

Viettel Pay, launched by military-run telecom provider Viettel in April, has had strong growth. — VNS

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