Over 31 million MoMo customers are using the MoMo App in Vietnam. Western Union insights show 81% of Vietnamese consumers want money transfer providers to integrate capabilities into one “super app”.
MoMo customers can now receive Western Union digital money transfers from over 200 countries and territories around the world. Customers can collect funds by searching for “Western Union” on their MoMo App and inputting their Money Transfer Control Number.
Atish Shrestha, head of Indochina at Western Union, welcomed the partnership between Western Union and MoMo.
“At Western Union, we value digital innovation and accessibility”, Shrestha said.
“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. We are excited to collaborate with a like-minded company as MoMo is – focused on offering innovative services that scale cross-border capabilities for consumers in Vietnam”, he added.
MoMo is a popular digital wallet in Vietnam allowing customers to transfer money directly from their phones via MoMo App. The App is widely accepted in supermarkets and food and beverage outlets nationwide.
Western Union’s expansion on the market
The announcement on Monday came as both companies are looking for ways to advance their digital strategies.
The collaboration with MoMo strengthens Western Union’s “Evolve 2025” strategy, which seeks to offer high-value, accessible digital and retail financial services.
“It’s our pleasure that MoMo is the first Vietnam fintech company to offer a service such as this with Western Union in order to support Vietnamese receiving cross-border remittances”, said Do Quang Thuan, senior vice president in charge of the Financial Services Business Unit at MoMo.
“Through our research, we found a rising need among overseas Vietnamese to send small amounts of money home to their families in Vietnam. Thanks to the new service, Vietnamese will now be able to receive Western Union money transfers through MoMo for many purposes such as family support and festive and celebratory occasions”, Thuan continued.