MoMo improves QR code for receiving money, bringing minimalism into the experience

MoMo has just officially launched a new multi-purpose money receiving QR code with many superior improvements over the previous money receiving QR code.

This innovation of the QR code for receiving money shows MoMo's spirit of innovation and user-centricity.

Accordingly, with MoMo's newly launched multi-purpose QR code, users can receive money from multiple sources, including MoMo, banking applications and other e-wallets, meeting all the sender's payment habits. The improvement of this QR code shows MoMo's spirit of innovation and user-centeredness to bring the best experiences, while contributing to promoting the strong trend of QR code transactions in Vietnam.

In addition to the outstanding advantage of receiving money from multiple sources, to increase convenience, right at the "Receive Money" icon on the main screen of MoMo, users can easily get the Receive Money QR code or download, save to the phone, and print it out when needed. In addition, if there is a need to use it regularly, users can install it on the main screen of the phone (widget) to use when needed without having to access MoMo.

For online transactions, users can also easily send codes directly from the MoMo app to messaging apps for the sender. Upon receiving the code via the messaging app, the sender can easily click to transfer money directly without having to download the code to the device. Also in January 2024, MoMo will launch the feature of sharing money receiving links, making sharing QR codes and transferring/receiving money even more convenient.

Mr. Nguyen Ba Diep, co-founder of MoMo, shared: “With the improvement of the multi-function QR code for receiving money, MoMo wants to bring a minimalist money receiving experience to Vietnamese users by eliminating operations such as sending phone numbers, account numbers, and eliminating the need to struggle to choose an application that suits the sender's transfer habits. In each new feature improvement, we aim to minimize operations, increase convenience to bring maximum experience to users, demonstrating the customer-centric philosophy that MoMo is aiming for in its operations and product development activities.”

At the same time, MoMo has improved the "Transaction History" of the Receive Money feature so that it is not only a personal financial management tool, but also an important source of information for users to have an overview to make informed decisions and financial strategies. In addition to providing transaction statistics by time (day, week, month), there is also a "Receive Money Statistics" feature that helps summarize in detail "amount", "number of transactions", "number of senders" which will be extremely useful for those who have many money receiving transactions.

Another advantage of the multi-function money receiving QR code is that the recipient can add the amount of money to the QR code for flexible use for purposes such as receiving New Year's lucky money according to their favorite number, receiving money to contribute to a group of friends, receiving money to pay food bills, etc. In addition, the recipient's information will be kept confidential because the Multi-function Money Receiving QR code only displays the last 3 digits of the recipient's phone number, just enough to serve the purpose of accurately comparing money transfer information.

According to the latest data from the State Bank, in the 5-year period (2018-2023), the growth in the number of transactions via QR codes in Vietnam reached 471.13% per year. This impressive growth shows that the trend of transactions using QR codes is becoming an inevitable trend because it meets the needs of speed, convenience, accuracy and is suitable for modern life. This is also what motivates leading Fintechs like MoMo to make the most of this famous barcode in products and services, especially in money transfer and receiving activities, which have always been MoMo's strength.

KIM THANH

Source: https://www.sggp.org.vn/momo-cai-tien-ma-qr-nhan-tien-dua-tinh-than-toi-gian-vao-trai-nghiem-post722949.html