According to the report, MoMo dominates all indicators: Fintech holds the highest market share in Vietnam with 68%, Fintech is the most popular, and Fintech is loved and used by many generations of users.
Payment with MoMo Wallet has now become quite popular in Vietnam
Specifically, according to the report “The Connected Consumer”, Q1/2023 MoMo holds 68% market share (penetration rates) of e-wallets, while other brands are all declining compared to Q4/2022.
The report also pointed out that MoMo is the most favorite Fintech with a preference of 48%, a growth of 2% compared to the fourth quarter of 4. MoMo's popularity is also the absolute leader in all three generations (Gen) X (from 42 to 62 years old), Y (from 26 to 41 years old) and Z (from 16 to 25 years old). In particular, MoMo has a 50% higher preference for the two groups of Gen Z and Gen Y users, with 51% and 54% respectively.
Entering the second quarter of 2, MoMo continues to make its mark with many new services and utilities. Recently, MoMo has officially become an integrated payment method on the online Apple Store, providing Vietnamese users with a variety of payment methods to shop for their favorite Apple products and easily manage and balance their finances.
“The Connected Consumer” is a quarterly report produced by Decision Lab - Yougov's exclusive partner in Vietnam - and the Mobile Marketing Association of Vietnam (MMA), starting from 2019. The report focuses on consumers' online habits, including social media usage, entertainment (online music, movies and video) as well as shopping.
