Uber Partners With Vietnamese Mobile Wallet MoMo For Payments
- Tie-up marks first of its kind for Uber in Southeast Asia
- MoMo backers include Goldman Sachs, Standard Chartered PE
Photographer: Maike Elan/Bloomberg
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Uber Technologies Inc. will allow riders in Vietnam to pay for their trips using local mobile wallet MoMo, opening up its service to the millions in the country who don’t have credit or debit cards.
The pact is a first for the world’s most valuable startup in Southeast Asia, Uber said. Backed by Standard Chartered Private Equity and Goldman Sachs, MoMo has five million users who use the mobile wallet to pay utility bills, buy airline tickets and access other services.