Momo becomes first Vietnamese Fintech 100 firm
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Vietnam’s mobile, electronic wallet and payment application Momo is among the top 100 innovative fintech companies in the world. This is the first time a Vietnamese firm has broken into this special group, positioned 84th. Momo is also in the “Emerging 50” category, which includes newer companies that are at the forefront of innovative technologies and practices.
Its products help customers in Vietnam make nationwide cash transfers, pay more than 100 types of bills, recharge mobile phone accounts, settle personal loans, and purchase services like software licenses and online game cards, airline and movie tickets, etc.
The company’s payment system partners with 24 domestic banks and foreign payment networks, including JCB, MasterCard, and Visa.
A judging panel comprised of senior partners from H2 Ventures and KPMG decided the final composition of the Fintech100 list.
H2 Ventures is a global thought leader in fintech venture capital investment while KPMG is a global network of independent member firms offering audit, tax and advisory services.
Companies were ranked based on total capital raised, rate of capital raising, location and degree of sub-industry disruption and the judging panel’s subjective rating of the degree of product, service, customer experience, and business model innovation.
Other newcomers to the list include Argentina, Bahrain, Colombia, Czech Republic, Indonesia, Jordan, Malaysia, Myanmar, United Arab Emirates, and Thailand.
Leading the ranking this year are China’s Ant Financial, the world’s largest third-party payments platform, JD Finance, a digital technology company and Singapore’s ride hailing firm Grab.
Questions & Answers
Q.What criteria were used to determine a company's ranking on the Fintech100 list?
What criteria were used to determine a company's ranking on the Fintech100 list?
Companies were ranked based on their total capital raised, the rate of capital raising, their location, and the degree of sub-industry disruption. The judging panel also subjectively rated the innovation of products, services, customer experience, and business models.
Q.Which organisations were responsible for deciding the final composition of the Fintech100 list?
Which organisations were responsible for deciding the final composition of the Fintech100 list?
A judging panel comprised of senior partners from H2 Ventures and KPMG decided the final composition. H2 Ventures is a global leader in fintech venture capital investment, while KPMG provides audit, tax, and advisory services.
Q.What specific services does Momo offer its customers in Vietnam?
What specific services does Momo offer its customers in Vietnam?
Momo helps customers make nationwide cash transfers and pay over 100 types of bills. It also allows them to recharge mobile phone accounts, settle personal loans, and purchase services like software licenses, online game cards, and tickets for airlines and movies.
Q.Which companies are leading the ranking on this year's Fintech100 list?
Which companies are leading the ranking on this year's Fintech100 list?
This year's ranking is led by China's Ant Financial, which is the world's largest third-party payments platform. Also at the top are JD Finance, a digital technology company, and Singapore's ride-hailing firm Grab.
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