Mobile Payments: A New Trend

Payment and shopping via smartphone is no longer strange to consumers in developed countries around the world.

In Vietnam, the trend of using modern technology in payment has had many remarkable changes.

Mobile payment is an inevitable trend

Experts say that after cash and payment cards, mobile payments are the future. Mobile payments not only help users pay conveniently, but also bring them an easier life, because most payments for daily expenses have been simplified. Card payments in developed countries have become too familiar, even some payments only accept cards. However, accepting bank cards in payments in Vietnam still faces many barriers.

The latest statistics show that in Vietnam, there are currently more than 60 million cards of all kinds. Of which, more than 80% are ATM card holders and the rest are international payment cards. Grasping the requirements of this potential market, the Moca application was created to simplify the use of bank cards in daily payment transactions. This is truly an effective solution for both consumers and businesses in many fields such as retail, services, online, ...

Built and led by a team of banking and financial technology experts with experience from Google, Microsoft and leading banks in Vietnam, Moca is a product exclusively for Vietnamese consumers and is striving to become a popular mobile payment application in the near future.

Moca application is really an effective payment solution

With a user-friendly design, Moca is a mobile application that helps pay bills for food, fashion, entertainment, transportation, etc. easily and securely. Users just need to download the free Moca application on Apple Store or Google Play, insert a bank card and start using it. With simple operations such as scanning the QR code, entering the amount and confirming the payment, users can make payment easier and more secure.

This is also an effective solution for businesses, because using QR codes helps save management costs and adds flexibility by not having to invest in installing POS card reading devices, while avoiding the inconveniences arising from using cash in payments.

Regarding the issue of security and safety of card information, users and businesses can be completely assured because Moca has been certified to meet the international PCI-DSS standard for security and safety in card payments. Applying tokenization and QR code technology, Moca ensures that users' card information is not shared with any third party other than the account holder and the issuing bank. Thus, MOCA users will be completely assured to enjoy dining, shopping, travel, entertainment or transportation services. Businesses using Moca payment solutions also avoid worries about managing customers' card data.

In the Vietnamese market, ATM cardholders at VPBank, ACB, OCB as well as international cards Visa, MasterCard and JCB can use Moca for daily consumer payments, shopping and dining simply and safely. Currently, there are major brands in many fields accepting the use of Moca payment methods such as Tous les Jours, Thanh Cong taxi, Ba Sao, Bookbuy.vn, Kem Fanny, Ivy Moda, Mochi Sweets... Not only that, Moca has been developing many outstanding utilities such as the feature of quickly recharging phone cards, or personal finance management tools, helping users control spending conveniently.

On May 17, Moca was honored to receive a license for providing intermediary payment services from the State Bank of Vietnam. With the mission of promoting mobile payments to become as popular as cash, Moca is constantly striving to meet the payment needs of modern consumers. Moca said it will continue to work with banks and service providers to expand its partner system, helping to bring users more convenience in life with the Moca application on their smartphones.

Source: Moca