The year 2025 marks the 15th anniversary of the MoMo brand's presence in Vietnam. From a simple SMS money transfer service, MoMo has grown to become a pioneering financial technology group, contributing to shaping a new look for Fintech Vietnam.
AI – the core platform that opens a new era of development for MoMo. (Source: MoMo)
Starting in 2010, when most users were still using feature phones, MoMo boldly brought payment services to mobile platforms. The move to Android and iOS applications opened the “mobile-first” phase, laying the foundation for the digital financial ecosystem that followed. To date, MoMo serves more than 30 million users, becoming one of the leading digital service exporters and a trusted partner of many banks and financial institutions.
During the period 2014-2019, MoMo focused on standardizing operations, achieving PCI DSS Level 1 international security certification and expanding connections with major banks. This was also the period when MoMo became a payment partner in Vietnam for global names such as Google, Apple and Uber, affirming the technological capacity developed by the Vietnamese engineering team.
Since 2020, MoMo has entered a new phase with the application of AI as its core platform. Hundreds of AI models are integrated to process transactions in real time, from credit scoring, fraud detection to personalizing user experience. On average, each transaction is processed through 6-7 AI models in parallel, ensuring speed, accuracy and safety for tens of millions of users.
MoMo accompanies in promoting national digital transformation, creating a modern digital financial ecosystem. (Source: MoMo)
Not only focusing on business, MoMo also plays an important role in national digital transformation. Currently, this platform supports more than 90% of online public administrative services, accounting for about 25% of total cashless transactions on the National Public Service Portal. In parallel, MoMo accompanies more than 500,000 small traders and businesses, contributing to promoting cash flow transparency and reducing cash risks.
After 15 years, MoMo is not only an e-wallet, but has become a symbol of Vietnamese Fintech, demonstrating the maturity of domestic financial technology. This journey affirms MoMo's role as an innovative partner, co-creator and creator of the digital future for Vietnam.
Source: https://vtcnews.vn/momo-15-nam-khang-dinh-vi-the-start-up-viet-trong-fintech-ar990028.html
Comment (0)