Netstars Vietnam will cooperate with Mobile Online Services JSC (M service) to provide grocery stores with payment solutions both online and offline.
The collaboration agreement signed by Netstars Vietnam Co., Lt (Netstars Vietnam), a member of the multinational fintech startup Netstars, and M service, a leading fintech company that operates the Momo super app in Vietnam, aims to promote non-cash payment services and digital merchant tools for grocery stores in Vietnam.
Amid the Covid pandemic, most traditional business activities are being affected. The partnership intends to enable grocery stores to easily receive payments both online and offline via the Tete Shop service, a smartphone-based shop management application for grocery stores with more than 10,000 registered shops. This will help merchants reduce physical contact and reduce the risk of Covid infection.
Currently, Momo has more than 25 million users in Vietnam.
While Netstars has a great market share in multi QR payment solutions in the Japan market, its local arm has integrated with most leading banks and e-wallets in Vietnam, accepting payments from more than 80 percent of mobile banking and e-wallet applications on the market.
Along with payment solutions, Netstars Vietnam also provides a smartphone-based shop management app Tete Shop for grocery stores with more than 10,000 registered outlets.
Netstars Vietnam has demonstrated its commitment to bring professional solutions to grocery stores and its passion to contribute to the development of Vietnam. Both parties plan to jointly promote and expand the Tete Shop and Momo Super app to remote, rural, and isolated areas with the goal of providing digital transformation to 1.4 million grocery stores in Vietnam.