Vantage Point: Vietnam’s MoMo tapping SMEs, rural market to deepen fintech play

Vantage Point: Vietnam’s MoMo tapping SMEs, rural market to deepen fintech play

This weekly newsletter highlights top developments and trends across Southeast Asia’s digital economy and ecosystem, without losing sight of the solid links between the online and offline worlds.

Executive Summary

  • MoMo – Super app in the making?
  • Happy Fresh going solo
  • Quick commerce in spotlight
  • Carousell in search of profits

MoMo – Super app in the making? 

MoMo in Vietnam is a standout amongst digital payments players in South East Asia, given that it is both independent and a market leader, accounting for over 53% of Vietnam’s digital payments wallet. MoMo’s annual payment volume hit $17 billion in 2021 and it now has around 23 million accounts, covering a network of 10,000 stores nationwide.

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