Fintech MoMo Offers Flexible Payment Options for Apple Store Online Purchases in Vietnam

MoMo, which claims to be one of Vietnam’s leading fintech companies, recently announced that it now offers customers of Vietnam’s Apple Store Online flexible payment options, “with the launch of monthly Instalments for Apple Store Online.”

With this new feature, Vietnamese customers will “have the opportunity to shop Apple’s innovative products with a wide range of accessories in a welcoming environment and use MoMo as a flexible payment gateway.”

Alongside a one-time payment option, customers who choose to use MoMo Instalments for Apple Store Online can also “split their purchase into 6 to 24 monthly instalments with a low 20% downpayment and with low monthly interest rates.”

Mr. Do Quang Thuan, Senior Vice President in charge of the Financial Services Division at MoMo, said:

“In 2019, MoMo was the first e-wallet in Vietnam to become a payment method for App Store. We are excited to provide more flexible payment options to Vietnamese customers when purchasing their favourite products from Apple Store Online, while helping them to more easily manage their finances.”

As noted in the update, MoMo is “a Vietnamese Fintech unicorn, provides super-app and payment service and is one of the fastest growing and largest fintech apps in the world.”

According to the firm, their mission is “to improve the life of Vietnamese people and merchants by using technology to give them access to superior, simpler and affordable financial solutions and daily services.”

Their super app platform is reportedly “trusted and loved by millions of users and merchants for its ease of use, product design, and compelling ecosystem of partners.”

MoMo claims it “has over 2,000 employees and is headquartered in Ho Chi Minh City with offices in Hanoi and Danang.”

As covered, Western Union and MoMo announced a strategic collaboration “enabling customers to receive Western Union money transfers on the MoMo app.”

It is reportedly the “first” time a money transfer operator’s services “have become available on a leading super app in Vietnam.”

Key insights from Western Union research “show that a [large] number of consumers in Vietnam (81%) want money transfer providers to integrate capabilities into one ‘super app’.”

Established in 2007, MoMo is Vietnam’s super app, “aiming to improve the life of Vietnamese people by using technology to give them access to simple and affordable financial services.”

MoMo’s 31 million customers can now “receive their Western Union money transfers digitally from over 200 countries and territories around the world.”


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