Potential for Mobile Money in Vietnam

Early adopters in Ho Chi Minh City embrace payments but mobile money has yet to gain ground


Just one year after launching its mobile wallet and payment app, Vietnamese FinTech company Momo boasts that the app has one million users to add to the 2.5 million mobile money customers Momo had announced in 2016. While preliminary research suggests that these mobile money customers are young, urban men paying for goods and services, BFA is staking a closer look at usage patterns to help a local microfinance bank identify opportunities deploy mobile money among its customer base.

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