E-wallet MoMo and MediaDonuts, an online advertising and technology company, have announced an exclusive strategic partnership in Viet Nam.
Under their agreement, the latter will act on behalf of MoMo to search for advertising partners on its platform.
The partnership will focus on solutions that help partners and reputable brands with quality products and services reach potential customers.
Besides payments, MoMo has also been developing an eco-system that meets all user needs like money transfer, payment, dining, shopping, financial services insurance, travel, online entertainment, and charity.
Nguyen Ba Diep, co-founder and vice president of MoMo Wallet, said: "With an eco-system of more than 30,000 business partners and 28 million customers, we hope the co-operation with MediaDonuts … will help increase the benefits for partners and customers and expand the MoMo eco-system."
MoMo is the country's leading super app with an active user base of over 25 million people and network of 60,000 partners domestically and internationally.
With a network of 27 banks, MoMo has among the largest financial and payment services eco-system.
Viet Nam has an internet penetration rate of around 70 per cent.
According to data from We Are Social, as of January this year, of the 65 million internet users, 94.3 per cent accessed it on mobile phones.
Advertising on mobile devices, especially on super apps, is becoming a popular trend and a potential market for app developers. The trend has been captured by many technology companies and large corporations around the world such as Paytm, Twitter, Viber, and Tiktok. — VNS
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