FinTech: Users Can Now Receive Western Union Remittances Into Vietnam’s Highly Popular MoMo App

March 21, 2023 | FinTech, Latest News, News

MoMo has over 31 million customers.

Western Union and MoMo have announced a collaboration enabling MoMo’s 31 million customers to receive Western Union money transfers through the MoMo app. This is the first time Western Union’s services have become available on a leading super app in Vietnam.

Customers can receive their transfers digitally from over 200 countries and territories around the world and collect funds in just a few simple steps. On their MoMo app, customers can simply input their Money Transfer Control Number (MTCN) into their Western Union tab thus allowing for their money transfers to be instantly routed to their MoMo app. These can then be routed to any of MoMo’s 50 partner banks. (Businesswire)

This announcement advances both companies’ digital strategies and reinforces MoMo’s position as the leading Fintech company in Vietnam.

Vietnam was the 10th largest remittance-receiving country in the world in 2022. The statistic exemplifies the significance of easy-to-use digital channels for cross-border money transfers.

“At Western Union, we value digital innovation and accessibility,” said Atish Shrestha, Head of Indochina at Western Union. “For the first time in Vietnam, a money transfer operator’s capabilities will be integrated within a super app, offering even better experiences to customers.”

MoMo is a fintech company in Vietnam that offers a payment service and super-app, which is one of the world’s largest and fastest-growing fintech apps. The company’s aim is to enhance the lives of Vietnamese people and merchants by providing easy-to-use and cost-effective financial solutions and daily services through technology.

MoMo’s platform has won awards and is popular among millions of users and merchants, and the company has over 2,000 employees and offices in Ho Chi Minh City, Hanoi, and Danang.

Related Story: Western Union’s European Digital Banking Platform To Use Marqeta For Offering Remittances Online

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