Ride-hailing platform Uber has inked a mobile payments deal with payments startup MoMo in Vietnam. The partnership, which is Uber’s first with a fintech company in Southeast Asia, will enable Uber riders to pay for their trips using MoMo’s mobile wallet. The deal will give Uber access to MoMo’s five million users who use the e-wallet to pay utility bills, purchase plane tickets and shop online. Uber Asia Pacific chief business officer Brooks Entwistle said: “Asia has a unique payment ecosystem, and we are committed to serving customers the way they like to be served. That means expanding payment options and embracing mobile wallets.” Established in 2007, MoMo has the backing of Standard Chartered Bank and global investment bank Goldman Sachs.
Uber has signed its first fintech deal in Asia Pacific, allowing users to pay for trips via MoMo's digital wallet. The partnership will give Uber access to MoMo's five million app users. MoMo's digital wallet is backed by Standard Chartered Bank and Goldman Sachs.