Mocha Technology and Services Co., Ltd. (Mocha) grab Applications in Vietnam are valid from 1 July 2024.
Integrated into the Grab app, the Moca wallet has become a popular payment method among Grab users in Vietnam.
Despite the changes, Moca will continue to be a strategic partner for Grab’s online payment activities and provide intermediary payment services across the Grab ecosystem in Vietnam.
Grab users will continue to have access to cashless payment options through bank cards, ZaloPay accounts and MoMo accounts.
Moca and Grab said they will communicate more information about the transition through their official channels to ensure users are well-informed and guided in managing their wallet balances.
Going forward, Moca will no longer accept requests for new e-wallet accounts as of May 31, 2024.
During the transition period from May 31 to June 30, 2024, Moca users will be able to withdraw funds to their linked accounts or bank cards and spend their balances.
Starting July 1, 2024, Moca will automatically refund any remaining balances to users, with the process expected to be completed by July 31, 2024.
If an automatic refund is not possible, Moca will provide you with additional instructions to ensure your refund is completed.
The move is part of Moca’s strategic plan to reallocate resources to focus on providing payment intermediation services in the country, with a view to improving operational efficiency and fostering sustainable growth.
Nguyen Xuan Viet Binh, Director of Moca, said:
“Moca commits that this strategic change will be implemented in accordance with current legal regulations and specific information and instructions to users will be updated. It also has plans and processes in place to accurately and strictly refund e-wallet balances (if any) to users.”
We are working closely with our banking partners to ensure that withdrawals of Moca e-wallet balances are as accurate, secure and smooth as possible, and in full compliance with current legal regulations.”
Alejandro Osorio
Alejandro Osorio, Managing Director of Grab Vietnam, said:
“Since 2018, our strategic partnership with Moca has enabled us to provide a safe and seamless cashless payment experience to Grab users and MSME customers in Vietnam. We will work closely with Moca to ensure that Grab users receive clear and specific instructions about this change and that the balance refund process goes smoothly.”
Moca will continue to be Grab’s strategic partner in Vietnam by providing key payment intermediation solutions to continue facilitating non-cash payments on the Grab platform.”
