Grab and Moca announce strategic partnership to promote cashless payment on Grab platform and in Vietnam
Vietnam, 11 September 2018 – Grab Company Ltd. (Grab), one of the most frequently used O2O mobile platforms in Southeast Asia, and MOCA Technology and Service Joint Stock Company (Moca), a leading digital payments service in Vietnam, today announced a strategic partnership to promote cashless payment on Grab platform and in Vietnam. Moca and Grab will leverage each others’ technology expertise and partner networks to roll out payments services to millions of Vietnamese consumers and SMEs.
Grab and Moca will be able to expand payments services more quickly and efficiently across Vietnam through their strategic partnership. Moca-enabled merchants will soon be able to benefit from the Grab app’s large customer base, comprising both driver-partners and consumers across Vietnam. Grab’s customers will soon be able to use the full suite of payments services developed by Moca, which include bill payments, airtime top-up as well as paying at retail stores including chains such as McDonalds and 7-Eleven.
“This strategic collaboration with Moca marks an important milestone for Grab in Vietnam as we seek to accelerate our growth in one of the fastest growing economies in Southeast Asia. We’re excited to partner with Moca to promote the mobile payments platform that matters to the people in Vietnam – one that enables you to pay for any service anywhere, whether it’s transport, food or bills,” said Nguyen Tuan Anh, Head of Grab Financial Group Vietnam.
“Consumers are leading increasingly digital lifestyles. Beyond the free social networks, they have started to enjoy digital services for their everyday needs, from daily commutes to food and parcel deliveries, along with safe and convenient cashless payment. The Grab and Moca strategic partnership helps promote this digital lifestyle, and we expect exponential growth of mobile payments driven by Moca and Grab across Vietnam,” said Tran Thanh Nam, Co-founder and CEO, Moca.
The shared technical expertise based in Vietnam between Moca and Grab will help to expand mobile payments more rapidly across the country. Moca’s founder team has extensive credibility and expertise in technology, payments, and banking. Its engineering team previously gained experience at some of the world’s top technology companies, including Google and Microsoft. In March 2017, Grab established an R&D center in Ho Chi Minh City and officially launched the center a few weeks ago, which is part of a global R&D network of six center that includes Bangalore, Beijing, Jakarta, Seattle and Singapore.
Grab and Moca will collaborate to offer consumers and SMEs in Vietnam increasingly more mobile payment facilities starting from beginning of Q4.