MoMo and MBV cooperate to deploy Postpaid Wallet

MoMo, Vietnam's leading financial application, has signed a cooperation agreement with Vietnam Modern Bank Limited (MBV) to expand the implementation of the Postpaid Wallet product.

The Board of Directors and representatives of the two units signed the cooperation agreement.

According to the agreement, from now on, MoMo users can immediately receive a credit limit of up to 20 million VND from MBV through just 3 simple activation steps. This limit is flexible, supporting diverse payments from electricity and water bills, utilities, online shopping to other spending needs at all MoMo payment acceptance points.

Mr. Le Xuan Vu, General Director of MBV said that the cooperation with MoMo is a strategic step for MBV on the journey to realize the manifesto "Modern living, Connected living". We not only innovate products but also together create a connected ecosystem, where every individual and business finds opportunities for development...

Using AI and Machine Learning technology, Afterpay Wallet eliminates the barriers of traditional procedures such as income proof or complicated paperwork.

The signing event marks an important milestone in the development strategy of Postpaid Wallet, demonstrating MoMo's long-term commitment to cooperating with banks to bring convenient, safe and affordable digital financial solutions to all classes of users, especially vulnerable groups who have little access to formal financial services.

Mr. Nguyen Manh Tuong, Vice Chairman of the Board of Directors and General Director of MoMo emphasized: “With a community of more than 30 million users and a network of hundreds of thousands of trusted merchants, I believe that the signing of cooperation with MBV today is not only a step forward in the business field, but also a strong commitment of MoMo to promote financial inclusion, contribute to shaping the digital economy and support the construction of a digital government in Vietnam”.

KIM THANH