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Uber seals deal with Vietnam mobile payment service
Ride sharing giant Uber has struck its first deal with a mobile payment provider in Southeast Asia.
The mobile payments deal now allows users in Vietnam to pay for rides via Momo digital wallet.
Vietnam based Momo will become a payment option within the Uber app alongside the existing cash and credit card options.
It is the country’s top mobile payment service used by about five million people.
It is being rolled out in phases with about 30% of Uber Android users able to pay by Momo now.
That will expand to all Android users in the next few weeks and Momo for iOS users will come in the near future.
"We see this partnership between Uber and MoMo as a big step in Vietnam’s journey toward digital revolution," Entwistle said.
It comes as its two main rivals in Southeast Asia – Grab and motorcycle taxi operator GoJek are working on their own in-house mobile payment services.
Entwistle sees the partnership as a catalyst to grow both Uber’s market share and change the make-up of Vietnam’s cash-dominated economy.
About 90% of all transactions are still paid by cash, which is something the Vietnam government wants to change.
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Editor for TravelMole North America and Asia pacific regions. Ray is a highly experienced (15+ years) skilled journalist and editor predominantly in travel, hospitality and lifestyle working with a huge number of major market-leading brands. He has also cover in-depth news, interviews and features in general business, finance, tech and geopolitical issues for a select few major news outlets and publishers.
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