Fintech company Moca joins hands with Grab to roll out digital payments services in Vietnam

Sainul Abudheen
Fintech company Moca joins hands with Grab to roll out digital payments services in Vietnam

Grab’s customers will be able to use Moca’s payments services including bill payments, airtime top-up, as well as paying at retail stores

Southeast Asia’s cab-hailing and O2O giant Grab has announced a strategic partnership with digital payments company Moca to roll out various digital payments services in Vietnam.

Moca and Grab will leverage each other’s technology expertise and partner networks to roll out payments services to millions of Vietnamese consumers and small and medium-sized enterprises (SMEs), as per a press statement.

Moca-enabled merchants will soon be able to benefit from Grab’s large customer base, comprising both driver-partners and consumers across Vietnam.

On the other hand, Grab’s customers will be able to use the full suite of payments services developed by Moca, which include bill payments, airtime top-up, as well as paying at retail stores, including chains such as McDonalds and 7-Eleven.

Also Read: Grab in talks to raise another US$1B for expansion in Southeast Asia

“This strategic collaboration with Moca marks an important milestone for Grab in Vietnam as we seek to accelerate our growth in one of the fastest growing economies in Southeast Asia. We’re excited to partner with Moca to promote the mobile payments platform that matters to the people in Vietnam — one that enables you to pay for any service anywhere, whether it’s transport, food or bills,” said Nguyen Tuan Anh, Head of Grab Financial Group Vietnam.

“Consumers are leading increasingly digital lifestyles. Beyond the free social networks, they have started to enjoy digital services for their everyday needs, from daily commutes to food and parcel deliveries, along with safe and convenient cashless payment. The Grab and Moca strategic partnership helps promote this digital lifestyle, and we expect exponential growth of mobile payments driven by Moca and Grab across Vietnam,” said Tran Thanh Nam, Co-founder and CEO, Moca.

In March 2017, Grab established an R&D center in Ho Chi Minh City and officially launched the centre a few weeks ago, which is part of a global R&D network of six centers that includes Bangalore, Beijing, Jakarta, Seattle and Singapore.

Early this month, Grab launched GrabFood will in Hanoi.

Moca is a leading digital payment service provider in Vietnam. Having been licensed by the State Bank of Vietnam since early 2016, Moca has now partnered with a dozen leading banks.

Photo by Jack Young on Unsplash

The post Fintech company Moca joins hands with Grab to roll out digital payments services in Vietnam appeared first on e27.