MoMo's business results have been growing beyond expectations due to the strong growth of mobile payment methods in Vietnam as well as the technology-loving trend of the majority of young people, the preference for cashless payment methods, for both online transactions and at points of sale.
The introduction of breakthrough payment features, exclusive payment partners, combined with attractive promotional campaigns on the application has helped MoMo attract and retain Vietnamese customers. MoMo has quickly become a "super application" with a modern style, allowing customers to not only borrow credit, deposit money or pay bills but also buy movie tickets, book airline tickets, buy insurance contracts and pay for goods and services at more than 100,000 payment points nationwide - including famous store chains such as Circle K, Ministop and FPT Shop...
With these great achievements, MoMo has become the only Vietnamese financial technology (Fintech) company in the list of Top 100 Fintech in the world announced by KPMG in 2018.
It should be added that MoMo's remarkable growth over the past year was also thanks to the successful investment call in the third round from Warburg Pincus - a leading private equity firm in the world and the largest private equity investor in Vietnam. The above investment has created a huge resource to expand the MoMo payment ecosystem and realize the desire to develop millions of MoMo payment acceptance points nationwide.
Following the unexpected results of 2018, MoMo continues to invest in technology, develop cooperative relationships with businesses and business partners, increase MoMo acceptance points, expand MoMo's agent system to serve the diverse financial needs of customers. Momo also continuously updates the latest technology, invests in human resource development and especially reaches more customers in rural areas.
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