Uber partners with Vietnamese mobile wallet MoMo for payments

The Uber app logo is seen on a mobile telephone in this October 28, 2016 photo illustration. REUTERS/Toby Melville/Illustration/File Photo

Uber Technologies Inc. will allow riders in Vietnam to pay for their trips using local mobile wallet MoMo, opening up its service to the millions in the country who don’t have credit or debit cards.

The pact is a first for the world’s most valuable startup in Southeast Asia, Uber said. Backed by Standard Chartered Private Equity and Goldman Sachs, MoMo has five million users who use the mobile wallet to pay utility bills, buy airline tickets and access other services.

Uber’s move comes as local ride-hailing rivals Grab and Go-Jek push aggressively for the adoption of their own in-app digital payments platforms to hook consumers. While Southeast Asia is home to 620 million people, many in the region have limited access to banking services and typically pay in cash.

“Asia has a unique payment ecosystem, and we are committed to serving customers the way they like to be served,” Brooks Entwistle, chief business officer of Uber Asia Pacific, said in a statement. “That means expanding payment options, and embracing mobile wallets.”

Bloomberg

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.