MoMo, Saigontourist Travel forge digital payment alliance

MoMo and Saigontourist Travel combine digital platforms

Vietnamese financial technology firm MoMo and Saigontourist Travel, a division of Saigontourist Group, established a strategic partnership on 18 September. The alliance aims to integrate travel products with digital payment and technology services. Under the agreement, Saigontourist Travel will broaden the reach of its offerings through MoMo's platform.

The companies will also collaborate on promotional campaigns and leverage data analytics to understand customer preferences, enhance user experience, and improve marketing effectiveness.

Cross-border payment network grows

The collaboration will significantly enhance payment flexibility for Vietnamese citizens travelling internationally. MoMo currently facilitates transactions in more than 60 countries and territories, including key destinations such as China, Thailand, South Korea, and Japan.

The company confirmed that users can scan MoMo QR codes at over 40 million payment points across China via the Alipay and WeChat networks. In Thailand, MoMo supports various local and international QR payment systems, including Thai QR, PromptPay, Alipay, and VietQR Global, at millions of retail locations.

These services aim to reduce reliance on cash and additional international payment cards, offering transparent exchange rates without service fees.

Customer experience and promotional incentives

MoMo and Saigontourist Group plan to introduce joint promotions tied to travel products and payment services. Currently, new customers making their initial QR-code payment with MoMo can access discounts of up to 50%, capped at VND100,000, at participating outlets.

Nguyen Ba Diep, MoMo's Senior Vice President and co-founder, emphasised the joint effort to create a smooth customer experience, from booking to making payments at destinations. Nguyen Thanh Luu, general director of Saigontourist Travel, noted that the digital transformation covers customer research, product creation, market reach, and service delivery.

He added that the partnership unites Saigontourist Travel's established brand and travel ecosystem with MoMo's technology, payment infrastructure, and extensive user base of approximately 30 million.

Driving digital adoption in Vietnamese tourism

This collaboration will accelerate digital payment adoption within Vietnam's travel industry. For Vietnamese consumers, it offers a more streamlined and cashless payment experience, particularly for international travel, potentially lowering foreign exchange costs and simplifying transactions.

Saigontourist Travel benefits from expanded digital distribution channels and modernised service offerings, gaining direct access to MoMo's substantial user base. Conversely, MoMo deepens its market penetration into a significant sector, boosting transaction volumes and user engagement within the high-value travel segment.

This partnership signals a wider trend of fintech platforms integrating with established industries to cater to digitally-oriented consumers and facilitate cross-border commerce.