Grab, the leading ride-hailing, taxi, food delivery and grocery service provider in Southeast Asia, on Friday announced to users that it will cease the operations of Moca e-wallet service in Vietnam starting July 1.

Many Grab users in Vietnam received a notice regarding the cessation from Grab on Friday.

The company stated that it reached this decision after careful consideration and assessments as part of its restructuring strategy. 

It assured Vietnamese users with a Moca wallet that they can still utilize it for services on the platform until the end of June 30 if they still have a balance. 

Additionally, users can withdraw money to their linked bank accounts or cards before July 1. 

Following the specified deadline, Moca will proceed to refund users who still have a balance in their accounts.

“Moca commits that the discontinuation of the e-wallet service will be implemented with the highest guarantees for the rights and interests of users,” Grab said in its announcement.

To ensure customers can still enjoy the convenience of cashless payments, Grab has encouraged users to explore alternative payment methods available on the Grab platform, such as ZaloPay, MoMo, or linked bank cards.

Moca e-wallet received its license from the State Bank of Vietnam to offer payment intermediary services in 2016.

In September 2018, Grab acquired Moca as part of its strategy to incorporate cashless payment services into its platform.

Subsequently, in October 2018, Moca e-wallet started being utilized for payment services on Grab.

Like us on Facebook or follow us on Twitter to get the latest news about Vietnam!