Uber signs partnership with Vietnam's leading e-wallet

November 28, 2017 - 11:10 PM

HANOI, Vietnam - U.S Uber Technologies Inc. on Wednesday signed a deal with MoMo, Vietnam's leading financial technology firm, enabling Uber riders to pay for trips using MoMo's e-wallets in a country where most transactions are done in cash.

The partnership is Uber's first deal with a fin-tech company in Southeast Asia. It aims to catch up with regional rival Grab, which has its own e-wallet service.

Backed by Standard Chartered Bank and Goldman Sachs, MoMo has 5 million users Vietnam who use its e-wallet to pay utility bills, buy plane tickets and do online shopping.

Brooks Entwistle, Uber's chief business officer in the Asia Pacific, said he expects the partnership to help the two companies grow and to change Vietnam's cash-dominated economy.

News from © The Associated Press, 2017

More News ...

iN RESPONSE: Readers have their say
Following are emailed reader responses to stories or letters to the editor for the third week of April 2024. They have been edited slightly for readability. Got something you want to add? Send an email to editor Marshall Jones at mjo

Kelowna winery says accountant took almost a half-million dollars
The owners of a Kelowna winery and golf course allege their former controller took nearly $450,000 in just 30 months on the job. The Turton Group, which owns The View winery as well as Orchard Greens golf course and a rental business, is su

No weed, just beer: Bavaria bans smoking cannabis at Oktoberfest and beer gardens
BERLIN (AP) — You can get drunk at Bavaria's world-famous Oktoberfest, but don't get high. The southern German state will ban smoking cannabis at public festivals, inside beer gardens, and even at the Oktoberfest, the world

B.C. home sales slide almost 10 per cent in March despite mortgage rate drop
VANCOUVER - Home sales in British Columbia fell by almost 10 per cent in March compared with the same period last year, in a slowdown an analyst says could be buyers waiting for lower interest rates. The B.C. Real Estate Association says th

Popular penticton News

Lemonade stand sparks overwhelming support for Kamloops family
The old adage “when life gives you lemons, make lemonade” never made more sense for a mother of three in Kamloops. Cara English’s daughter set up a lemonade stand to raise
April 17, 2024 7:00 AM
Kelowna winery says accountant took almost a half-million dollars
The owners of a Kelowna winery and golf course allege their former controller took nearly $450,000 in just 30 months on the job. The Turton Group, which owns The View winery as well as Orcha
April 15, 2024 6:00 PM
RCMP tight-lipped about serious crime investigation at Kamloops home
RCMP investigators have been at a North Kamloops home since late last week, but police are tight-lipped as to why. A Kamloops RCMP forensic team along with members of the serious crime unit
April 16, 2024 3:04 PM
North Okanagan murder suspect tried to return to family home after release: daughter
Family of North Okanagan woman Tatjana Stefanski, who was found dead yesterday and presumed murdered, say they are dealing with grief, but also some fear and anger. In a social media post, h
April 16, 2024 1:34 PM
North Okanagan family 'aren't safe' after murder suspect released
A North Okanagan man whose partner was abducted and killed says he doesn’t feel his family is safe after police released the suspected killer. Police have released Vitali Steffan, also
April 16, 2024 6:00 PM

Trending Now

TRENDING NOW: Latest humanoid robot amazing yet terrifying

View Site in: Desktop | Mobile

Uber signs partnership with Vietnam's leading e-wallet

Trending Now

Kamloops

Kelowna

Penticton

Vernon