Moca e-wallet on Grab officially stops operating from July 1

From July 1, the Moca e-wallet (often used on the Grab ride-hailing app) will officially stop operating in Vietnam, citing the reason for "implementing a restructuring strategy".

According to Grab, the Moca e-wallet service on this ride-hailing app will stop working from July 1. Accordingly, the features on the Moca e-wallet will stop working completely, including payment, deposit, and withdrawal of money into and out of the wallet.

Moca e-wallet has been licensed to operate in Vietnam since 2016.

Moca also announced: “ The company has made careful assessments and decided to implement a restructuring strategy towards sustainable growth. Accordingly, we regret to announce that we will stop providing Moca e-wallet services from July 1, 2024. ”

Along with the announcement of ceasing operations from July 1, Moca will proceed to refund users who still have balances in their accounts. Accordingly, this intermediary payment service provider commits to ceasing the provision of e-wallet services and refunds will be implemented with the highest guarantees for the rights and interests of users.

For users who still have balance on Moca e-wallet, they can actively track the Moca wallet refund status at the payment page on the Grab app.

Moca will make the refund by withdrawing the balance from the wallet and transferring it to the linked account/bank card. It is expected that users will receive the refund by July 31, 2024 at the latest.

The Moca e-wallet balance will be displayed on the Grab app if the refund process has not been completed successfully. During the automatic refund process, users may see the balance displayed on the e-wallet as 0 for a certain period of time before the linked account records the refunded amount.

Information about the withdrawal of balance from the wallet will be shown in the "Recent Transactions" section on the payment page of the Grab app. Users can check the refunded balance in the bank statement of the account linked to the e-wallet.

Moca said that it will continue to support users in making inquiries and complaints arising before July 1, within 100 days from the date of transaction.

Previously, Moca also announced that from May 31, the company would stop providing bill payment services on the Grab application. At the same time, it also stopped providing two bill payment and phone top-up services on the Moca application. The company also changed its head office address in early April 2024.

Moca's full name is Moca Technology and Services Joint Stock Company, founded in 2013 by a group of former senior staff from Microsoft, Google and leading experts in the finance and banking industry in Vietnam.

Moca builds mobile applications that help users make online or direct payments safely and conveniently with ATM cards, Visa/Mastercard/JCB cards. Moca was granted a license to provide intermediary payment services since 2016. By the end of 2018, Moca was integrated into the payment service on the Grab ride-hailing application.

Source: https://baoquocte.vn/vi-dien-tu-moca-tren-grab-chinh-thuc-dung-hoat-dong-tu-ngay-17-277071.html