Visa partners with Vietnam's Moca e-wallet

(VOVWORLD) - Visa financial services corporation announced that it has joined hands with Vietnam's Moca e-wallet on the Grab application. 
Visa partners with Vietnam's Moca e-wallet  - ảnh 1A promotion offered by Visa and GrabFood. (Photo courtesy of Visa)

The cooperation aims to encourage consumers to install functions to store card information and use Visa cards for online payments via Moca’s solutions on Grab and other e-commerce platforms.  

Visa’s Country Manager for Vietnam and Laos Dang Tuyet Dung said that amid the considerable growth of the payment sector, it is vital for customers to get accustomed to the trend. 

The cooperation is hoped to deliver a quick, convenient and risk-free experience to customers, especially in the backdrop of the COVID-19 pandemic and social distancing, she said. 

An economic outlook for the Southeast Asian region in 2019 showed that the food order and delivery service market in Vietnam was estimated to value at 302 million USD in 2020, and the number of users was projected to continue surging to 17 million by 2024.

In addition, a survey on Visa’s customer payment attitudes indicated that half of Vietnamese consumers are using super apps on hand-held devices. 

As many as 87% of the respondents said that they are using delivery services and 98% of them make orders more frequently during the pandemic period. 

Meanwhile, consumers have shown a concern about security, including technologies to protect transactions on mobile phones, along with personal and financial information.