Wallets/momo-vietnam
MoMo (Vietnam)
0 standards supported
Overview
MoMo (Mobile Money) is Vietnam's #1 super-app + e-wallet, launched 2014 by M_Service [1, 2, vn-cro]. 23+ million active users — Vietnam's most popular digital wallet.
Vietnam e-payment macro (2025) [1]: VND 500+ trillion (~$20B) e-wallet transactions = 10x growth vs 2017; Vietnam e-payment industry growing 35% annually.
MoMo super-app stack: payments + bill payments + mobile top-ups + P2P + insurance + micro-loans + investments + stock trading + ride-hailing integrations + food delivery + e-commerce + games + utilities.
History
2014 — MoMo launches by M_Service [2]: Vietnam's e-wallet pioneer.
2018-2021 — Mass Vietnamese adoption + super-app evolution [1].
2021 — Unicorn status at $2B+ valuation post-Mizuho-led funding round.
2025 — 23+ million active users; super-app financial-services-stack expansion [1].
Ownership & operator
Operating entity: M_Service Joint Stock Company — Vietnamese fintech.
Major investors: Mizuho Bank (lead 2021 Series E), Warburg Pincus, Affirma Capital, Tybourne Capital, Goodwater Capital, Standard Chartered.
Regulator: SBV (State Bank of Vietnam) — Intermediary Payment Service license.
Technical integration
| Layer | Description |
|---|---|
| Channels | MoMo mobile app (iOS + Android) + merchant QR via VietQR |
| Identifiers | Phone + QR |
| VN rail | vietqr (NAPAS national QR) |
| Super-app stack | Payments + bills + top-ups + P2P + insurance + loans + investments + stock + ride + food + e-commerce + games |
| License | E-wallet + Intermediary Payment Service (SBV) |
Users & growth
2025 baseline [1]:
- Active users: 23+ million
- VN e-wallet macro 2025: VND 500T (~$20B) e-wallet tx = 10x vs 2017
- VN e-payment industry growth: 35% annual
Use cases
VN super-app payments + bills + top-ups + P2P; insurance + micro-loans + investments + stock trading; ride-hailing + food + e-commerce + games + utilities; VietQR merchant payments.
Implementations & partners
Operator: M_Service Joint Stock Company.
Major investors: Mizuho Bank (lead), Warburg Pincus, Affirma Capital, Tybourne Capital, Goodwater Capital, Standard Chartered.
Major VN competitors:
- [[zalopay]] (VNG; 117% Q1 2026 revenue growth; Zalo messenger 80.2M MAU)
- [[vnpay]] (~40% population usage; QR leader)
- ViettelPay (Viettel-led telco wallet)
- [[shopeepay]] (Sea Group SEA-wide)
- [[grabpay]] (Grab Holdings SEA-wide)
Top 5 VN wallets (MoMo + ZaloPay + ViettelPay + ShopeePay + VNPay) = ~65% combined market share (2025).
Regulator: SBV.
Fun facts
- VN's #1 super-app + e-wallet — 23M+ active users.
- 2021 Unicorn status post-Mizuho-led Series E.
- VN e-wallet macro 2025: VND 500T (~$20B) = 10x vs 2017; industry +35% annual.
- Mizuho Bank-backed Japan-VN partnership.
- Comprehensive super-app stack: payments → insurance → investments → stock trading.
Comparison
| Feature | MoMo (VN) | [[zalopay]] (VN rival) | [[vnpay]] (VN rival) | [[gcash]] (PH analogous) | [[gopay]] (ID analogous) |
|---|---|---|---|---|---|
| Operator | M_Service Joint Stock Company | VNG Corporation | VNPay | GCash (Globe + Ant + 667 Partners) | GoPay (GoTo Group) |
| Type | VN #1 super-app + e-wallet | VN messenger-led super-app (Zalo + ZaloPay) | VN QR-led wallet (54.67% QR market share 2025) | PH super-app | ID super-app |
| Country | Vietnam | Vietnam | Vietnam | Philippines | Indonesia |
| Users | 23M+ active | Zalo 80.2M MAU; ZaloPay growing fast | ~40% VN population usage | 81M+ | 30M+ |
| Distinctive | VN #1 super-app; Mizuho-led 2021 Unicorn | VNG messenger-integration; Q1 2026 +117% revenue | QR market dominance; broadest merchant network | PH wallet + GoTyme Bank sister | GoTo Group + Tokopedia ecosystem |
Status
Active, Vietnam's #1 super-app + e-wallet [1]:
- MoMo (M_Service) since 2014.
- 23M+ active users + super-app financial stack.
- SBV-regulated.
Sources
- 1 MoMo super-app revolution — AgileTech
- 2 MoMo 20M+ users — AgileTech
- 3 MoMo 20M users — Vietnam Plus
- 4 VN e-wallet players — Fintech Singapore
- vn-cro In-corpus:
reports/countries/VN-vietnam.md
Source
Biography extracted from momo-vietnam.md. See matrix.md for standards-support matrix if present.