Grab to Discontinue E-Wallet Service in Vietnam Starting July 1

Grab announced that it will discontinue its e-wallet service in Vietnam, launched in 2018 in a strategic partnership with local payments firm Moca.

Effective July 1, this change will impact both the Moca app and Grab’s app in the country, where Grab has been present since 2014.

Nguyen Xuan Viet Binh, acting country head of Grab Financial Group for Vietnam, stated that the decision stemmed from a comprehensive review to restructure the company’s services.

Despite the termination of the e-wallet service, Moca will remain a significant partner in Grab’s online payments in Vietnam, as per the statement. This partnership entails Moca providing payment intermediary services across all of Grab’s Vietnam operations.

Binh assured users that they will receive refunds for any remaining balances. Additionally, Grab users can continue making cashless payments using bank cards, ZaloPay accounts, and MoMo accounts.