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Vietnam's MoMo payment app on board with Uber

Local fintech players face challenges as Alipay and Samsung Pay enter market

Saad Ahmed, Uber's head of strategic initiatives and business development in Southeast Asia, at the launch of his company's partnership with MoMo in Hanoi on Nov. 29.

HO CHI MINH CITY -- M-Service, a Vietnamese fintech company, and the U.S. ride-hailing company Uber Technologies signed a strategic agreement last week to enable passengers to pay for rides using the MoMo app, an online payment service in a country where most people do not have credit cards. 

It is the first such partnership in Southeast Asia for Uber. According to Brooks Entwistle, the company's chief business officer in Asia-Pacific, the region has a unique payment ecosystem. Uber is willing to serve customers however they wish, accepting either cash payments or e-wallets for a "a seamless and cashless transport experience." 

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