22:15 (GMT +7) - Monday 19/11/2018

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Grab & Moca announce strategic partnership

Released at: 19:07, 11/09/2018

Grab & Moca announce strategic partnership

Photo: Ngoc Lan

Two to leverage each other's technological expertise and partner networks.

by Ngoc Lan

Grab - one of the most frequently-used O2O mobile platforms in Southeast Asia - and Moca - a leading digital payments service in Vietnam - officially announced a strategic partnership on September 11 in Hanoi to promote cashless payments on the Grab platform and in Vietnam.

Moca and Grab will leverage each other’s technological expertise and partner networks to roll out payment services to millions of Vietnamese consumers and small and medium-sized enterprises (SMEs).

They will be able to expand payment services more quickly and efficiently throughout Vietnam via the 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.

Grab customers will soon be able to use the full suite of payment services developed by Moca, which includes bill payments, airtime top-up, as well as payments at retail outlets, including chains such as McDonalds and 7-Eleven. 

Mr. Nguyen Tuan Anh, Head of the Grab Financial Group Vietnam, said the strategic cooperation with Moca marks an important milestone for Grab in Vietnam as it seeks to accelerate its growth in one of the fastest-growing economies in Southeast Asia. “We are excited to partner with Moca to promote a mobile payments platform that matters to people in Vietnam - one that enables them to pay for any service anywhere, whether it’s transport, food or bills,” he said.

Mr. Tran Thanh Nam, Co-founder and CEO of Moca, said that consumers are leading increasingly digital lifestyles. “Beyond 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 payments,” he said. “Our strategic partnership with Grab helps promote this digital lifestyle, and we expect exponential growth in mobile payments around Vietnam driven by Moca and Grab.”

The shared technical expertise in Vietnam between Moca and Grab will help expand mobile payments more rapidly throughout the country. Moca’s founding team has extensive credibility and expertise in technology, payments, and banking. Its engineering team previously gained experience at some of the world’s top tech 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 centers that includes Bangalore, Beijing, Jakarta, Seattle and Singapore.

Grab and Moca will cooperate to offer consumers and SMEs in Vietnam increasingly more mobile payment facilities, starting from the beginning of the fourth quarter.

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