Visa expands cooperation with MoMo, VNPAY and ZaloPay | Digitalization | Finance

With this new partnership, Visa cardholders will be able to connect their Visa cards as a payment source when paying by QR code on MoMo, VNPAY -QR and ZaloPay at businesses that have implemented payment acceptance with the three e-wallets mentioned above. The partnership is part of Visa's efforts to promote digital transformation towards a cashless society in Vietnam, through providing a variety of payment methods, thereby bringing many benefits to both businesses and consumers.

Visa cardholders will be able to connect their Visa card as a payment source when paying by QR code on MoMo, VNPAY-QR and ZaloPay.

Ms. Dang Tuyet Dung, Visa Country Manager for Vietnam and Laos, shared that Vietnam is gradually moving towards a cashless society, and this process will be accelerated by SMEs being ready to innovate, bringing consumers advanced and creative digital payment solutions. This cooperation is a key part of Visa and its partners' efforts to promote the digital economy and financial inclusion.

Mr. Do Khac Cuong, Deputy General Director of MoMo's Payment Services Business Division, said that with this cooperation, MoMo will help Visa quickly expand the scale of payment acceptance points nationwide. This is also a great advantage of MoMo.

"In particular, with more than 30 million users experiencing Visa cards not only for payment and shopping at luxury chain stores, but now experiencing mobile, safe payment with Visa cards at all household stores," said Mr. Cuong.

The number of e-wallet users in Vietnam is forecast to increase by 40% compared to 2023, reaching 50 million e-wallets by the end of 2024. Many benefits of e-wallets are noted such as ease of use, friendly experience, quick operation, multi-service, transaction speed and safety.

This growth is also in line with consumer preferences as more and more people are embracing cashless payments in Vietnam. According to Visa's 2023 Consumer Payment Attitudes study, up to 88% of Vietnamese consumers are prioritizing cashless payments and 62% of consumers have used QR payments, compared to only 35% in 2021.

Source: https://diaoc.nld.com.vn/visa-mo-rong-hop-tac-voi-momo-vnpay-va-zalopay-19624052708304849.htm