What Momo does

MoMo (legally Công Ty Cổ Phần Dịch Vụ Di Động Trực Tuyến, operating as M_Service) is a Vietnamese AI-powered fintech super app serving more than 30 million registered users and 500,000+ merchant stores. Founded in 2014 and headquartered in Ho Chi Minh City, MoMo operates as a vertically integrated platform combining a digital wallet, QR-code payment infrastructure with proprietary speaker hardware, Ví Trả Sau Buy Now Pay Later (33,000 VND/month, 0% interest, up to 12-month installments), Vay Nhanh quick loans (instant approval, up to 48-month tenor), insurance, healthcare (Echo Medi), green mobility (Xanh SM), and entertainment ticketing. Underlying the platform is an AI stack that includes an AI Financial Assistant, automatic transaction classification, a Financial Center for asset aggregation, behavioral fraud detection (29,000 abnormal transactions flagged daily), and iProov-powered Dynamic Liveness biometric verification. MoMo processes approximately 5.5 billion transactions per quarter, holds PCI DSS Level 1 and GlobalSign SSL/TLS certifications, and integrates with 36+ Vietnamese banks plus Visa/Mastercard/JCB.

The business operates a product-led, direct-to-consumer go-to-market with self-serve app onboarding, while capturing additional revenue through bank partnerships (TPBank, VCBNeo, MBV) that supply the balance sheet for lending products, alongside merchant payment processing fees, BNPL subscription fees, loan interest, entertainment commissions, and Tet lucky money transactions. The company is profitable since 2024, has raised over $430 million cumulatively from Goldman Sachs, Warburg Pincus, Goodwater Capital, Kora, Macquarie, Tybourne, Affirma, and Mizuho Bank (which led a $200 million Series E in December 2021 at a $2 billion+ valuation), and as of April 2026 is exploring strategic options including a new investment round with Jefferies and Morgan Stanley advising. The June 2026 rebrand to AI Financial Assistant marks a deliberate platform evolution beyond payments toward AI-mediated personal finance management.

Name

Momo

Legal name

Công Ty Cổ Phần Dịch Vụ Di Động Trực Tuyến

Website

https://momo.vn

Company type

Private

Founded year

2014

Operating status

Operating

Headcount range

1,001–5,000 employees

Short description

MoMo is a Vietnamese AI-powered fintech super app serving 30+ million consumers and 500,000+ merchants with digital payments, BNPL, quick loans, and integrated lifestyle services, processing 5.5 billion transactions per quarter and profitable since 2024.

Ownership category

akta.pro rank

Product category

Digital Payments / Mobile Wallet

NAICS

Sales Financing (52222)

SIC

Finance Services (6199), Personal Credit Institutions (6141)

akta.pro primary industry

Super-App Wallets & Mini-Program Payments (FSAMAEAE)

akta.pro secondary industries

QR Code Payments Wallets (FSAMAEAC), BNPL Consumer Apps & Wallets (Discovery, Management) (FSAGAIAG), Buy Now, Pay Later (BNPL) Platforms (BPAMAFAG)

Keywords

• Mobile payment platform
• Digital wallet services
• Buy now pay later
• Qr code payments
• Fintech super app

Headquarters

HQ city

Ho Chi Minh City

HQ country

Vietnam

HQ region

Asia

Offices4 records

Markets served

GTM type

B2C

Offering type

Software

Cost components

Technology or R&D, Personnel, Marketing or Sales, Operations, Infrastructure

Revenue model

1. BNPL Fees (Ví Trả Sau): Monthly subscription fee of 33,000 VND per month for Buy Now Pay Later service. Includes 5 free transactions, 0% interest, and flexible installment options up to 12 months. Revenue generated from monthly fees charged to users.
2. Quick Loan Interest: Interest income from Vay Nhanh (Quick Loans) product offering instant approval loans up to 48 months tenor without income documentation, fully online process.
3. Payment Transaction Fees: Transaction fees from QR code payments, bill payments, mobile top-up, and other financial services. Merchant partners pay for payment processing services.
4. Digital Lucky Money (E-Envelopes): Revenue from Tet digital lucky money envelopes. Users sent over 150 million digital envelopes during Tet 2026, double the previous year.
5. Entertainment Services: Commissions from movie ticket bookings, bus ticket sales, game credits, and other entertainment services integrated in the super app.

Pricing tiers

Go-to-market motion2 records

Distribution channels4 records

Marketing channels7 records

Core offering

MoMo operates an AI-powered super app that serves as a digital wallet enabling money transfers, QR code payments, mobile top-up, and bill payments, and extends into Buy Now Pay Later (Ví Trả Sau), quick loans, insurance, charity, and lifestyle bookings (movie/bus tickets, healthcare, ride-hailing). It monetizes primarily through BNPL subscription fees, transaction fees on payments and entertainment, and interest income from consumer lending, distributed via the iOS/Android app to more than 30 million Vietnamese consumers and a 500,000+ merchant acceptance network.

Product overview

MoMo is Vietnam's leading super app and fintech platform serving over 30 million users, evolving from a digital wallet to an AI-powered financial assistant. The core MoMo app combines a digital wallet (enabling money transfers, QR payments, mobile top-up, bill payments) with AI-powered financial management tools including spending tracking, a Financial Center for asset aggregation, and a Group Fund for collaborative savings. The platform extends through modules like Ví Trả Sau (BNPL in partnership with TPB, MBV, and VCBNeo), Quick Loans, movie and bus ticket booking, and merchant services including payment speakers. A strategic partnership with Echo Medi brings healthcare services, while the Xanh SM partnership adds green mobility. The platform processes 5.5 billion transactions quarterly and operates as a super app connecting 500,000+ merchants.

Differentiator

Problem solved

Functional benefit

Products and services

• MoMo Digital Wallet / Super App Vietnam's leading super app and digital wallet enabling money transfers, QR code payments, mobile top-up, bill payments, and access to an ecosystem of financial and lifestyle services for over 30 million Vietnamese consumers.
• Ví Trả Sau (Buy Now Pay Later) BNPL service allowing users to buy now and pay later with 0% interest, a 33,000 VND monthly subscription fee, up to 12-month installments, and acceptance at 500,000+ merchants. Underlying credit is supplied by TPBank, MBV Bank, and VCBNeo.
• Quick Loan (Vay Nhanh) Fast consumer loan product with 1-minute approval, no income documentation required, 100% online process, repayment up to 48 months, and funds deposited directly into the MoMo wallet.
• Insurance Products Insurance products distributed through the MoMo app, including car/auto insurance (Bảo hiểm ô tô thân vỏ), part of the company's expansion into broader financial services.
• MoMo Merchant App / Business Platform Business platform enabling merchants to accept MoMo payments, manage payment links, access transaction notifications, and tap into MoMo's 30+ million user base for promotional campaigns.
• Payment Notification Speaker (Loa thông báo chuyển khoản) Hardware speaker device for merchants that audibly announces incoming MoMo payments in real time at the point of sale, becoming an industry standard across the 500,000+ merchant network.
• Movie Tickets (Vé xem phim) Movie ticket booking service offering diverse film genres, comprehensive showtime updates, detailed authentic reviews, and complete film information, payable inside the MoMo super app.
• Bus Tickets (Vé xe khách) Intercity bus ticket booking service covering operators throughout Vietnam with flexible payment options including Ví Trả Sau BNPL, daily promotions, and quick cancellation.
• MoMo Charity (Trái Tim MoMo) Charitable giving platform connecting users with more than 20 reputable Vietnamese organizations for fundraising, with transparent case listings and donations starting from 1,000 VND.
• Healthcare Services Integration (Echo Medi) Healthcare services integrated into the MoMo super app via the Echo Medi partnership, offering chronic disease management, telemedicine, preventive care, and flexible MoMo payment options including Ví Trả Sau installments.
• Ride-hailing Integration (Xanh SM) Green mobility integration through the Xanh SM partnership, extending the MoMo super app with electric ride-hailing and sustainable transportation payments.
• MoMo AI Financial Assistant (Trợ Thủ Tài Chính với AI) AI-powered feature integrated across the MoMo app that helps users protect their money, simplify complex financial tasks, track spending, receive personalized recommendations, and build better financial habits.

Quantifiable outcome

• 5.5 billion transactions processed in Q1 2025
• +5 more outcomes

Named customers4 records

Segments3 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

AI capability8 records

Feature6 records

Partnerships

Seven partnerships are on record, tiered strategic, core and minor.

• Xanh SMstrategicStrategic or Co-development Partner · 24 December 2025MoMo and Xanh SM signed strategic partnership to expand green transportation services and digital payments for users, integrating sustainable mobility options into MoMo super app.
• iProovcoreTechnology or Integration · 22 December 2025MoMo partnered with iProov to integrate Dynamic Liveness technology for biometric identity verification, combating digital fraud including deepfakes and digital injection attacks. This collaboration helps MoMo comply with Vietnam's State Bank Decision 2345 mandating strong biometric authentication.
• VCBNeocoreStrategic or Co-development Partner · 9 June 2025MoMo and VCBNeo established strategic partnership leveraging technology synergies to democratize digital finance. VCBNeo provides banking services integrated into MoMo platform as part of Ví Trả Sau BNPL product.
• Echo MedistrategicStrategic or Co-development Partner · 2 April 2025Strategic partnership to integrate healthcare services into MoMo's super app, enabling users to access chronic disease management, telemedicine, preventive care, and health services with seamless payment options and installment plans. Partnership includes corporate wellness programs and community health initiatives.
• TPBankcoreStrategic or Co-development PartnerTPBank partners with MoMo to provide Ví Trả Sau (Buy Now Pay Later) services. The bank provides the underlying installment credit while MoMo provides the platform, customer interface, and distribution.
• PiquestrategicTechnology or IntegrationAcqui-hired AI startup Pique to enhance MoMo's data capabilities and personalize services. The acquisition included Pique's intellectual property and data science team, aiming to better serve 25 million registered users.
• Samsung VietnamminorGTM or Marketing PartnerExclusive offers for Samsung employees opening Ví Trả Sau, demonstrating partnership with Samsung Vietnam for employee benefits and cross-promotional activities.

Scale indicators11 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• VNPay: VNPay is Vietnam's largest domestic payment network operating a QR-based payment gateway and e-wallet with deep bank integration. Directly competes with MoMo on consumer QR payments, merchant acquiring, and online checkout across Vietnam.
• ZaloPay: ZaloPay is VNG Corporation's e-wallet and super-app payments product, embedded in Zalo's messaging platform with comparable QR payment, bill payment, and money-transfer features. Closest direct competitor to MoMo's consumer wallet offering in Vietnam.
• GCash: GCash is the Philippines' leading e-wallet super app with 90M+ users, offering QR payments, savings, credit, and insurance through a Mynt partnership model. Comparable emerging-market super-app wallet play with similar bank-partner credit architecture.
• Grab Financial Group (GrabPay): GrabPay is Southeast Asia's leading super-app payment and financial-services arm within Grab, offering wallets, pay-later products, and lending across multiple ASEAN markets. Closest regional analog to MoMo's super-app + embedded finance model, though operating at multi-country scale.
• DANA Indonesia: DANA is one of Indonesia's leading e-wallets with a super-app feature set spanning QR payments, bill pay, and financial services. Comparable emerging-market Southeast Asian wallet with similar bank-partner credit offerings and merchant-network growth strategy.
• OVO Indonesia: OVO is an Indonesia-focused e-wallet backed by Lippo Group and Grab with QR payments, bill pay, and financial-services modules. Comparable Southeast Asian consumer wallet targeting mass-market digital payments and lifestyle services.
• Paytm: Paytm is India's largest payments-and-financial-services super app with QR payments, wallet, BNPL (Postpaid), lending, and merchant acquiring. Closest large-scale analog to MoMo's super-app + BNPL + merchant-network combination in an emerging market.
• TrueMoney Vietnam: TrueMoney is an Ascend Money (CP Group) e-wallet with significant presence in Vietnam offering QR payments, money transfers, and bill payments. Direct competitor in the Vietnamese e-wallet market with comparable unbanked/mass-market focus.

Broad incumbents

• ShopeePay (Sea Group): Sea Group operates ShopeePay as part of its broader e-commerce and digital-payments ecosystem across Southeast Asia. Comparable because ShopeePay competes with MoMo on QR payments and embedded finance, though it is bundled with a much larger e-commerce platform.
• Ant Group (Alipay): Ant Group operates Alipay, the global benchmark for super-app wallets combining QR payments, BNPL (Huabei), lending, insurance, and lifestyle services. Comparable as the archetypal super-app wallet + embedded-finance model that MoMo's strategy explicitly mirrors at smaller scale.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat6 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCKHHW-qL2JoZqcSNm1jPlqw
• Facebookfacebook.com/vimomo
• LinkedInlinkedin.com/company/momo-mservice

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles6 records

Subsidiaries1 record

Funding overview

Funding rounds5 records

Investors10 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A1 record

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Momo