Grab partners fintech firm in Vietnam for cashless payments

The partnership's features will roll out by Q4.

Grab teamed up with Vietnam fintech firm Moca to leverage each other’s technology expertise and to roll out payments for Vietnamese consumers and small & medium-sized enterprises (SMEs) by Q4, an announcement revealed.

The partnership will allow Moca-enabled merchants to benefit from Grab’s large customer base, comprising both driver-partners and consumers across Vietnam.

Meanwhile, Grab’s customers will soon have access to use the payments services developed by Moca including bill payments, airtime top-up, as well as paying at retail stores 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,” Grab financial group Vietnam head Nguyen Tuan Anh said.

The ride-hailing firm established a research and development centre in Ho Chi Minh City back in March 2017 and officially launched the centre a few weeks ago as part of its global R&D network of six centres that includes Bangalore, Beijing, Jakarta, Seattle and Singapore.