MoMo is a mobile wallet which can be used to make payments online, rather than paying directly from the customer’s card or bank account.

Customers can either load money on to their mobile wallet, or connect it to their bank account or payment cards. They can then use it to pay online, transfer money to friends or pay in physical stores.

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Type Wallet
Company behind LPM M_Service
Market share details 25 m users; Momo claims to be Vietnam’s largest mobile wallet company with 10 m downloads. It is accepted at 100,000 outlets nationwide, including popular local chains.
Market relevance High

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