Alipay, China's leading third-party online payment solutionAlipay, China's leading third-party online payment solution

MoMo

MoMo is the most popular digital wallet in Vietnam, serving 31 million users and providing easy, efficient, and affordable access to financial services. It commands a market share exceeding 70% in the digital wallet industry within Vietnam.

MoMo offers a diverse range of features, including one-time payments, tokenized payments (Auto Debit), and BNPL. Additionally, MoMo has achieved a relatively high payment success rate across the various payment methods and features provided to interim merchants.

Properties

The following table lists the product properties supported by MoMo:

Payment type

Wallet

Funding source

Wallet balance, Linked bank account, Bound card, Saved account, BNPL

Acquirer

AlipaySG, AlipayEU,

AlipayUS, AlipayUK

Merchant entity location

SG, AU, HK,

EU, US, UK

Payment flow

Redirect

Refund

✔️

Buyer country/region

Vietnam

Partial refund

✔️

Processing currency

VND

Chargeback/Dispute

❌

Minimum payment amount

1,000 VND

Refund period

365 days

Maximum payment amount

50,000,000 VND

Time to return payment result

Real-time

User experience

Note: The following payment flows on different terminals are reference only, and represent this payment method's flow on different terminal types. For supported merchants' terminal types, consult Antom Technical Support.

The following figure shows the MoMo authorization process:

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  1. The user selects MoMo to bind from the merchant's environment.
  2. Display the QR code to the user in the merchant page.
  3. The user opens the MoMo app and scans the QR code.
  4. The user is redirected to the binding detail page and clicks Binding.
  5. The user enters the PIN.
  6. Upon the binding is successful, a push notification is to be sent to the user's phone.
  7. The user is redirected to the merchant page.