According to the report, MoMo leads overwhelmingly in all indicators: Fintech holds the highest market share in Vietnam with 68%, is the most popular Fintech, and is also the Fintech that is loved and used the most by many generations of users.
Payment by MoMo Wallet has now become quite popular in Vietnam.
Specifically, according to the report "Digital Consumer - The Connected Consumer", in the first quarter of 2023, MoMo accounted for 68% of the market share (penetration rates) of e-wallets, while other brands were all decreasing compared to the fourth quarter of 2022.
The report also shows that MoMo is the most favorite Fintech with a 48% favorite level, a 2% increase compared to the fourth quarter of 2022. MoMo's favorite level also leads absolutely in all three generations (Gen) X (from 42 - 62 years old) , Y (from 26 - 41 years old) and Z (from 16 - 25 years old) . In particular, MoMo has a favorite level higher than 50% for the two user groups Gen Z and Gen Y, with rates of 51% and 54% respectively.
Entering the second quarter of 2023, MoMo continues to make its mark with many new services and utilities. Recently, MoMo officially became an integrated payment method on the Apple Store online, providing Vietnamese users with a variety of payment methods to shop for their favorite Apple products and easily manage and balance their finances.
"The Connected Consumer" is a quarterly report conducted by Decision Lab - Yougov's exclusive partner in Vietnam - and the Mobile Marketing Association Vietnam (MMA), starting from 2019. The report focuses on consumers' online habits, including the use of social networks, entertainment (music, movies and online videos) as well as online shopping.
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