MoMo remains most popular e-wallet in Vietnam

MoMo remains most popular e-wallet in Vietnam (Photo: tuoitre.vn)

HCM City (VNA) – MoMo has solidified its position as the most popular e-wallet in Vietnam for two consecutive years, according the Fintech Industry Rankings 2023 announced by Viettel’s information monitoring and analysis system on the network environment (Reputa).

Following its impressive performance in 2022, MoMo continued to take the lead in the rankings with a total score of 138.23, or 2.5 times higher than VTCPay, which came second in the list.

Although MoMo's total score showed a slight drop compared to 2022, but the brand has become more popular among Vietnamese consumers seeking convenient and secure digital transactions.

Nguyen Ba Diep, co-founder of MoMo, attributed the success to the continuous efforts made by the company to improve its user interface and expand and enhance the features and utilities of its super app platform.

Alongside its commitment to cashless payments, MoMo has been at the forefront of providing investment, accumulation, and savings services, catering to the personal financial needs of the Vietnamese population, he said.

Following MoMo were VTC Pay, VNPay, ZaloPay and Viettel Money. Meanwhile, the five most popular e-banks were Vietcombank, Timo, MB, Techcombank, and Vietinbank.

Moreover, as Vietnam embraces the digital revolution, a fascinating trend has emerged with the rapid rise of QR-code based payments, e-wallets, and digital banking applications, igniting a cashless revolution across the nation.

Numerous users have voiced their preference for e-wallet payments, citing the alluring discounts and vouchers they receive as key factors./.