You can send remittances from 10, 20 USD to Vietnam via MoMo

On March 20, Western Union and MoMo wallet announced a strategic partnership, in which Vietnamese people can receive Western Union international money from relatives in more than 200 countries and territories through MoMo's service. This is the first time the service to support receiving international money is available on a Vietnamese super app.

With this cooperation, tens of millions of MoMo users only need about 1 minute to receive international money from relatives in more than 200 countries and territories. With an ecosystem linking nearly 50 banks, through the international money receiving support service via MoMo, money will be transferred directly to the recipient's account.

Có thể gửi kiều hối từ 10, 20 USD về Việt Nam qua MoMo - Ảnh 1.

Users can receive remittances from abroad via MoMo wallet

According to Mr. Do Quang Thuan, Senior Deputy General Director in charge of MoMo's Business Unit, the unit conducted a survey and found that the need to send small amounts of money home to Vietnamese workers, overseas Vietnamese brides, and people living abroad is increasing.

"Thanks to low costs and almost instantaneous money transfer, Vietnamese people can now comfortably receive international money sent by relatives and friends abroad through MoMo for many purposes such as New Year's lucky money, weddings, birthdays, etc. in addition to the usual purposes such as supporting families to renovate their houses, pay hospital fees, and save money. By supporting small money transfers of maybe 10 or 20 USD, MoMo hopes to erase the gap between Vietnamese people living abroad and their homeland," said Mr. Do Quang Thuan.

According to the Migration and Development Report conducted by the World Bank and the International Organization for Migration Cooperation (KNOMAD), in 2022, Vietnam will be in the top 3 countries receiving the most money from abroad in the Asia-Pacific region and in the top 10 countries in the world receiving money from abroad, reaching nearly 19 billion USD. These figures affirm the role of cross-border money transfer channels in the digital environment and the importance of cooperation to promote global connectivity.

Thai Phuong. Photo: Binh An

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