Vietnamese payments

Mobile payments: local business for local people

MoMo’s chairman explains why Vietnam’s first national champion could be a fintech player as countries wake up to the implications of letting foreign companies take strategic stakes in their leading e-payment providers.
The growth prospects, which have made Vietnam the darling of frontier market equity investors, are equally applicable to the e-payments sector says MoMo chairman Terry Ting.
 
The former Goldman Sachs private equity banker has been involved with the Vietnamese mobile electronic wallet provider from the very first funding round in December 2013 when it secured $5.75 million in capital from the investment bank. 
 
Since then, SP Global Market Intelligence figures show that MoMo has raised $28 million in March 2016 from Goldman and Standard Chartered, then a reported $100 million in the fourth quarter of...
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