Moca Wallet Suddenly Stopped Working, Are Grab Users Affected?

At noon on May 31, many Grab app users said they suddenly received a notice about the suspension of Moca e-wallet service from July 1.

Accordingly, Moca (a partner of Grab) said that the company has made careful assessments and decided to implement a restructuring strategy towards sustainable growth.

"We regret to announce that we will stop providing Moca e-wallet service from July 1, 2024. If users still have a balance in their Moca wallet, they can actively manage this balance by spending on services or withdrawing money to an active linked account/bank card from now until June 30," Moca's announcement stated.

From July 1, Moca will refund users who still have balance in their accounts. Moca commits to stopping the provision of e-wallet services and refunds will be implemented with the highest guarantee of users' rights and interests.

Moca Wallet has cooperated with Grab platform in Vietnam since 2018.

Speaking to the press on the same afternoon, Moca's leaders said that they would stop providing e-wallet services to focus resources on other payment intermediary services with better growth potential in the Vietnamese market. This is part of the strategy to restructure the service portfolio and improve operational efficiency to promote sustainable growth.

Although it has stopped providing e-wallet services on the Moca and Grab applications, Moca said it will continue to be Grab's strategic partner for online payment activities, providing a number of intermediary payment services for the entire Grab ecosystem in Vietnam.

"Grab users can still continue to experience cashless payments with methods such as bank cards, ZaloPay accounts, and MoMo accounts. Moca commits that this strategic change will be implemented in accordance with current laws, updating specific information and instructions to users. We also have a plan and process for refunding the remaining balance on the e-wallet (if any) to users accurately and strictly," said Mr. Nguyen Xuan Viet Binh, Director of Moca.

At noon on May 31, many users received an official notice about the suspension of the Moca e-wallet service on the Grab platform.

It is known that Moca wallet has been cooperating with Grab since 2018. Mr. Alejandro Osorio, CEO of Grab Vietnam, said that he will work closely with Moca to ensure that Grab users are given clear and specific instructions about this change; ensuring that the balance refund process goes smoothly.

"Moca is and will continue to be Grab's strategic partner in Vietnam, through providing important intermediary payment solutions to continue promoting cashless payments," said Mr. Alejandro Osorio.

Source: https://nld.com.vn/vi-dien-tu-moca-ngung-hoat-dong-tu-1-7-19624053113485853.htm