MoMo E-Wallet | Vietnam’s Leading Super App Revolution

By 2025, Vietnam’s digital payment landscape has transformed dramatically, with MoMo leading the charge as the country’s most dominant e-wallet and fintech super app. Since its rise in the late 2010s, MoMo has revolutionized mobile payments, making cashless transactions the norm and reshaping consumer behavior with seamless, secure, and rewarding financial services.

With substantial foreign investment and a surge in fintech innovation, Vietnam’s cashless economy has expanded exponentially. Between 2016 and 2018, the number of fintech companies in Vietnam skyrocketed from 40 to nearly 100, with 26 licensed intermediary payment service providers. By 2020, the total transaction value in the Digital Payments sector reached over $10 billion, and in 2025, that number has multiplied significantly as digital wallets become the preferred payment method for everyday transactions. According to the State Bank of Vietnam (SBV), the value of e-wallet transactions in 2025 has exceeded VND 500 trillion (approximately USD 20 billion), a tenfold increase compared to 2017.

Among the many e-wallet players in Vietnam, MoMo has solidified itself as the ultimate financial super app, offering far more than just payments. The app now provides a one-stop solution for financial services, including bill payments, mobile top-ups, peer-to-peer transfers, insurance, micro-loans, investment opportunities, and even stock trading. What sets MoMo apart is its deep integration with Vietnam’s retail, banking, and e-commerce ecosystems, enabling users to pay for almost anything—from groceries, utilities, and ride-hailing to online shopping, gaming, and travel bookings.

To stay ahead in the highly competitive e-wallet market, MoMo continuously innovates with AI-driven financial solutions, personalized rewards programs, and strategic partnerships with global fintech leaders. The app’s loyalty ecosystem features cashback offers, discount vouchers, gamified rewards, and even NFT-based incentives, ensuring a highly engaging and customer-centric experience. MoMo’s Super App model now extends beyond Vietnam, collaborating with international fintech firms and expanding its influence in the global digital payment landscape.

As Vietnam progresses toward a cashless society, MoMo is at the forefront of this financial revolution, bridging the gap between traditional banking and digital finance. Its ability to adapt, innovate, and provide value to both consumers and merchants ensures that it remains a dominant force in the fintech industry, not just in Vietnam but across the broader Southeast Asian market.

If you are wondering what MoMo is or how MoMo becomes a leading super wallet, here’s a look at this Vietnam mobile wallet!

1. What is MoMo?

MoMo has evolved far beyond a simple e-wallet, becoming Vietnam’s leading fintech super app, providing a comprehensive digital financial ecosystem. Originally known for its one-touch online payment solutions, MoMo now offers a seamless and secure platform that integrates money transfers, bill payments, e-commerce transactions, investment opportunities, insurance, lending, and even stock trading—all within a single app.

MoMo’s core functionality remains its highly efficient digital wallet, allowing instant peer-to-peer (P2P) transfers and enabling users to pay for everyday expenses effortlessly, including electricity, water, internet, mobile top-ups, and tuition fees. However, its expansion into lifestyle and financial services has made it an essential tool for millions of Vietnamese. Users can now book movie tickets, flights, train rides, and hotels, shop online, donate to charities, and even participate in MoMo’s financial marketplace, where they can explore savings, investments, and micro-loans.

MoMo’s success is driven by cutting-edge AI and blockchain technology, ensuring top-tier security, fraud prevention, and personalized financial recommendations. The app’s loyalty and rewards program, featuring exclusive cashback offers, gamified promotions, and digital vouchers, continues to attract and retain users. Additionally, its deep integration with Vietnam’s banking system, retail sector, and global fintech partners has positioned it as a leader in the country’s transition toward a cashless economy.

In 2025, MoMo is no longer just an e-wallet—it is a financial powerhouse, redefining how users in Vietnam and beyond transact, invest, and manage their money in the digital age.

2. Momo Super App – The Ultimate Digital Lifestyle Platform

Inspired by the success of Asian tech giants like WeChat (China), Go-Jek (Indonesia), and Grab (Singapore), MoMo has transformed into Vietnam’s most powerful super app, seamlessly integrating payments, financial services, entertainment, shopping, and transportation. By 2025, MoMo has expanded its ecosystem to over 10,000 partners, covering a wide range of industries, including consumer finance, insurance, e-commerce, travel, and on-demand services.

One of MoMo’s biggest breakthroughs is its Mini-App ecosystem, which now features more than 100 integrated services that allow users to perform a variety of tasks—all without leaving the app. From sending money, paying bills, and purchasing insurance policies to shopping online and booking rides, flights, or even doctor consultations, MoMo Super App provides an unmatched level of convenience. Users can access over 100,000 payment points across Vietnam, making cashless transactions the new norm.

Seamless & Rewarding Transactions

Imagine walking into Starbucks for your morning coffee—no need for cash or a bank card. With MoMo’s QR payment system, simply scan the QR code, adjust the payment amount, and confirm the transaction—all within seconds. Not only is it faster and more convenient, but MoMo also rewards users with cashback, loyalty points, and exclusive discounts, making everyday purchases more rewarding.

MoMo’s super app model continues to redefine how Vietnamese consumers interact with digital services, making it the go-to platform for everything from daily payments to financial management and entertainment. With its rapid expansion, cutting-edge AI-driven personalization, and deep fintech integrations, MoMo is leading the charge toward a cashless, smarter, and more connected Vietnam.sup

Read also: WeChat: The super app that exceeds 1 billion daily active users

3. MoMo: A Global Fintech Powerhouse in 2025

Over the past 12 years, MoMo has achieved remarkable success, solidifying its position as Vietnam’s leading digital wallet and gaining international recognition. In 2025, MoMo proudly remains the only Vietnamese fintech company listed among the Top 50 Global Fintech Innovators, an exclusive ranking that highlights the world’s most disruptive and high-growth financial technology companies. Ranked 36th, MoMo has once again demonstrated its impact on the global fintech landscape.

Explosive Growth & Market Leadership

MoMo has surpassed 40 million active users in Vietnam, maintaining its status as the nation’s top mobile payment app. The platform has experienced unprecedented growth, with a 20% month-over-month increase in transaction volume and user engagement. MoMo’s success is driven by its extensive partner network, offering financial services, retail, e-commerce, and daily necessities—all within a single app.

Massive Investments & Global Expansion

Following its historic Series C funding round of $100 million, led by Warburg Pincus, MoMo has continued to attract major investments. By 2025, the company has secured additional Series D funding, further fueling its expansion into Southeast Asia and strengthening its technological infrastructure. According to CEO Pham Thanh Duc, this funding is a “game-changer”, allowing MoMo to enhance its AI-powered financial services, blockchain integration, and cross-border payment capabilities.

Record-Breaking Transactions & Industry Recognition

MoMo has consistently posted its highest-ever transaction volumes, with billions of dollars flowing through its platform annually. As Vietnam’s first fintech unicorn, MoMo’s impact extends beyond just payments—it is actively shaping the future of digital finance, financial inclusion, and smart banking solutions in Vietnam and beyond.

With its relentless innovation, strong investor backing, and growing user base, MoMo continues to set new benchmarks for the fintech industry, reinforcing its reputation as one of the most influential digital payment platforms in the world.

4. How does Momo become a Super Wallet?

By 2025, MoMo has fully evolved into a Super Wallet, integrating seamless digital payments with financial services to become an indispensable part of everyday life. Investors and consumers alike are drawn to MoMo’s super-app vision, which aims to streamline all daily financial activities within a single platform. Whether it’s paying for utilities, fuel, tuition fees, hospital bills, or shopping, MoMo provides a one-stop digital solution for users across Vietnam.

MoMo Super Wallet: A Daily Essential

MoMo is now embedded into every aspect of modern life. In the morning, users book a ride-hailing service and pay via MoMo. At lunchtime, they order food, shop at supermarkets, and make quick transactions using their MoMo balance or linked bank accounts. In the evening, they purchase movie tickets, buy event passes, or even make investments—all through the MoMo Super Wallet.

Vietnam’s Leading E-Wallet & Fintech Pioneer

With Vietnam’s e-payment industry growing at an annual rate of 35%, MoMo continues to lead the digital payment revolution. According to the Ministry of Industry and Trade, Vietnam is now one of the fastest-growing digital payment markets worldwide. MoMo’s innovations have played a significant role in shifting consumer habits from cash-based transactions to a fully digital financial ecosystem.

Record-Breaking Growth & Market Dominance

MoMo has achieved unparalleled success in user adoption. During its latest Super Cashback Day event, the MoMo Super App:

• Became the #1 most downloaded free app on the iOS App Store

• Ranked Top 3 on Google Play Store

• Processed millions of transactions within 24 hours, reinforcing its position as Vietnam’s #1 e-wallet

As MoMo continues to expand its partnerships and enhance its services, it is not just a payment platform but a financial ecosystem empowering millions of users and businesses. The MoMo Super Wallet is revolutionizing Vietnam’s digital economy, paving the way for a cashless society and financial inclusion for all.

“MoMo is committed to realizing that vision by accelerating the adoption of digital payments and enabling equal opportunities for all Vietnamese to benefit from the digital economy,” – Mr. Tuong said.

MoMo will also continue to invest in technology, including in areas such as AI, security and big data capabilities, in order to deliver innovative financial services solutions and serve the unmet needs of consumers.

E-Wallet market battle in Viet Nam

The online payment market in Vietnam has great potential, and now is the ‘golden time’ for e-wallets to develop. According to the State Bank of Vietnam, there are 30 businesses have been granted licenses to provide e-wallets. But only four of them have a higher number of transactions, including MoMo, ZaloPay, Moca and AirPay.

In Vietnam, dozen of e-wallet players are fighting for a piece of the market. As for AirPay, the e-wallet is the product of Vietnam Esports, backed by SEA Group. AirPay in Vietnam does not only have an ecosystem from Shopee but also benefit from customers who buy game cards from Garena and order food online via Now.

ZaloPay, a well-known name in Vietnam, was cited as a diverse mobile wallet ecosystem that includes different types of services. ZaloPay enables online payment for electricity, water, internet and TV as well as money transfer via QR code, etc.

With lots of potentials, the battle of “super applications” will be increasingly competitive and attractive in the near future. Digital wallets regularly update information about users and new services. But, they never issue reports about profits.

Most e-wallets are still taking losses and are trying to familiarize people with non-cash payments.

Will M_Service’s Momo make history like WeChat? Will ZaloPay continue to succeed as it did on the ride front? Or will Airpay go back and forth? – Time will tell all.

Read also: Fintech| The rise of super app in Vietnam

AgileTech – Your Trusted Partner in Super App Development

AgileTech continues to empower businesses with cutting-edge Super App development services, providing a comprehensive, secure, and high-performance platform tailored to meet the evolving demands of the digital economy. Whether you aim to launch a new Super App or scale an existing one, AgileTech delivers the technology, expertise, and infrastructure needed to create a seamless multi-service ecosystem.

What We Offer

• High-Performance & Secure Architecture – Built with scalability and security at its core, AgileTech ensures seamless integration of various payment gateways and service modules to provide a smooth and reliable user experience.

• Pre-Built Mini-Apps Ready for Integration – Our library of 10+ ready-to-use service mini-apps spans entertainment, hotel bookings, travel, flight services, and more. These mini-apps can be seamlessly embedded into your Super App to expand functionality and increase user engagement.

• Dedicated Support & Warranty – We stand by our commitment to providing long-term technical support, ensuring smooth operation and scalability post-launch.

Why Build Your Super App with AgileTech?

• Tap into Millions of Potential Users – By integrating your app into our existing Super App ecosystems, you gain instant access to a large and engaged audience.

• Advanced User Behavior Analytics – Track real-time user interactions within each mini-app, leveraging data-driven insights to optimize your marketing and monetization strategies.

• Centralized Mini-App Management – Our Portal Mini-Center provides a streamlined interface for developers to manage, update, and scale their mini-apps within a single Super App framework.

With a team of expert Project Managers, engineers, and designers, AgileTech has successfully delivered innovative digital solutions to clients in over 10 countries, including the U.S., U.K., Germany, France, and Singapore.