Momo’s 31 Million Users Can Now Receive Western Union Money Transfers
by Fintech News Vietnam March 21, 2023Vietnamese e-wallet M-Service which operates under the MoMo brand announced that it has enabled its customers to receive Western Union money transfers on its app.
MoMo said in a press release that it is the first super app in Vietnam to offer a money transfer operator’s services.
Through this partnership, MoMo’s 31 million customers can now receive their Western Union money transfers digitally from over 200 countries and territories around the world.
In order to collect the funds, customers can search for ‘Western Union’ on the MoMo App and input their Money Transfer Control Number (MTCN).
Once that is completed, they will be able to route their transfers to the MoMo app, and then into their bank accounts. MoMo has 50 partner banks to date.
Atish Shrestha
“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 likeminded company as MoMo is – focused on offering innovative services that scale cross-border capabilities for consumers in Vietnam.”
said Atish Shrestha, Head of Indochina at Western Union.
Do Quang Thuan
“Through our research, we found that there was a rising need among overseas Vietnamese to send small amounts of money home to their families in Vietnam. Through low cost and speedy remittance services, MoMo wishes to bring people closer together, bridging the gap between Vietnamese overseas and their families in the country.”
said Do Quang Thuan, Senior Vice President in charge of the Financial Services Business Unit at MoMo.
