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Source-backed analysis12

Review basis

Research-based review: the AppDuo Editorial Team compiled it from official pages, documentation, app stores, press and user feedback, without hands-on testing. Every claim links to a source with the date it was checked.

12 reference sources

Information updated Nov 10, 2026

How we review
MoMo logo

MoMo Review

Widely used Vietnamese e-wallet for transfers, bills, spending tracking and QR payments

Editorial Team7.5/10Write the first review

By Official AppDuo editorial team · Updated

  • iOS
  • Android
Free · Free
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Decide at a glance

Our verdict

MoMo suits people who want one wallet for transfers, bill payments, top-ups, tickets and spending tracking; the company reports more than 30 million users, and the app is rated 4.4/5 on the App Store and 4.2/5 on Google Play. The trade-offs are broad data collection that may be processed outside Vietnam, balance and monthly transaction caps, and many lending, insurance and investment products coming from partners, so each product's terms need reading.

Best for: People who want one app for everyday transfers, bills, phone top-ups, tickets and QR payments

Skip it if: Anyone needing to hold a large balance, since the wallet is capped at 200,000,000 ₫

Pros

  • Wide service scope: transfers, bills, top-ups, tickets, spending management, group funds, Pay Later, quick loans and insurance
  • High ratings at scale: 4.4/5 from 390,155 ratings on the Vietnamese App Store and 4.2/5 from about 700,000 on Google Play
  • Abnormal-transaction blocking (announced 12 May 2026) and risky-recipient warnings; states ISO 27001:2022, ISO 27701:2019 and PCI DSS level 1

Cons

  • The privacy policy allows broad sharing, processing outside Vietnam and gives only a generic retention period
  • No consolidated fee schedule: the terms only say fees are shown in the app and may change with notice
All pros and cons · Who is it for?

More pros

  • A dispute process with stated deadlines in the terms: 30 working days to respond, 5 working days to refund when the loss is not the user's fault

More cons

  • Hotline calls cost 1,000 ₫/minute; the terms say the hotline runs 24/7, while the website footer lists Monday–Friday working hours without saying which channel they apply to

Best for

  • Users who want spending reports and bill reminders inside the wallet
  • Vehicle owners who want fine lookup, vehicle insurance and ETC top-ups in the same app

Skip it if

  • Privacy-sensitive users, given the broad sharing and possible processing outside Vietnam

Problems it solves

Experience & key features

What is MoMo?

MoMo is an e-wallet run by Online Mobile Services JSC (M_Service), headquartered in Ho Chi Minh City. According to its about page, the company was founded in 2007 and is licensed by the State Bank of Vietnam for e-wallet, money transfer, and collection and payment services. The formal e-wallet licence was granted on 16 October 2015, after a trial licence in 2009. In September 2020 the company announced 20 million users, and a June 2026 press report quotes it as serving more than 30 million.

Key features

The homepage presents MoMo as a "financial assistant with AI". The app covers transfers and bill payments, phone and data top-ups, movie and coach tickets, automatic spending categorisation, a financial overview with bill and debt reminders, group funds, interest-free Pay Later (provided by a partner bank), quick loans repayable over up to 48 months, and insurance. Vehicle owners also get traffic-fine lookup, vehicle insurance and ETC top-ups. App Store screenshots also show QR payments abroad, for example in Singapore, Malaysia and South Korea.

Security and safety

The security page lists ISO 27001:2022, ISO 27701:2019 and PCI DSS level 1, plus "5 AI-integrated security layers". On 12 May 2026 MoMo announced a feature that pauses transactions showing unusual signs before confirmation and directs users to a safety hotline. Figures such as protecting accounts "up to 99.9999%" come with no methodology or independent verification. MoMo also publishes frequent warnings about fake apps such as "MoMo Pro" and staff impersonation scams, stressing that it never asks for OTPs.

More analysis

Fees, limits and value

Using the wallet is free, but the terms say some products carry fees, shown in the app before confirmation and changeable with notice. The terms effective 30 September 2026 cap the balance at 200,000,000 ₫ and transfers plus payments at 100,000,000 ₫ a month for a personal wallet; a payment group covering public services, tuition, hospital fees and insurance has a combined 300,000,000 ₫ monthly cap. Pay Later costs 33,000 ₫/month per the homepage. With no central fee schedule, check the fee in the app before each transaction.

Who it's for and how it compares

MoMo suits people who want one general-purpose wallet instead of several separate apps. ZaloPay, ShopeePay, VNPAY and Viettel Money are comparable wallets and payment ecosystems with different scope; banking apps such as MB Bank or VCB Digibank fit better if you want to manage a bank account directly. This review is based on public documents rather than hands-on use, so check current limits and fees in the app before using it for large sums.

Screenshots

Intro screen for the "financial assistant with AI" featuring the Moni virtual assistant
Intro screen for the "financial assistant with AI" featuring the Moni virtual assistant
Home screen: MoMo wallet, Túi Thần Tài and Pay Later balances with shortcuts for transfers, bill payment and phone top-ups
Home screen: MoMo wallet, Túi Thần Tài and Pay Later balances with shortcuts for transfers, bill payment and phone top-ups
Cross-border QR payments with a country picker (Singapore, Malaysia, South Korea shown)
Cross-border QR payments with a country picker (Singapore, Malaysia, South Korea shown)
Spending management screen: a category donut chart with monthly income and expense totals
Spending management screen: a category donut chart with monthly income and expense totals

Plans & pricing

Prices last verified Nov 10, 2026

Ví MoMo

Personal

Free

The wallet is free to install and use. Under the terms effective 30 Sep 2026, the balance is capped at 200,000,000 ₫, and transfers plus payments across one person's personal wallets at 100,000,000 ₫ a month (with legal exclusions). A group of special payments (public services, utilities, tuition, hospital fees, insurance, repayments to credit institutions) has a combined cap of 300,000,000 ₫ a month. Some services carry fees, which the app shows before you confirm. The homepage lists Pay Later at 33,000 ₫/month, a minimum bank top-up of 10,000 ₫ (50,000 ₫ for Agribank) and hotline calls at 1,000 ₫/minute.

Free plan limits
Full wallet use requires biometric identity verification under State Bank of Vietnam rules and linking your own bank account or card. Balance and monthly caps are as above; MoMo may change the limits and announces changes in the app.
Free trial
No free trial
Cancellation & refunds

Under the terms, disputes must be filed within 60 days of the transaction. MoMo responds or resolves within at most 30 working days; if the cause is still unclear by then, the two sides have 15 more working days to agree on a solution. Losses that are not the user's fault are refunded within 5 working days of the result. For partner products, refunds depend on MoMo's agreement with the provider.

Privacy

The privacy policy (updated 1 Apr 2026) lists broad collection: identity data, biometrics tied to a registered device, financial data and transaction history, location, device data, and information from banks, partners and the national population database. Data may be shared with group companies, authorities when legally required, partners whose services the user chooses, and service providers (IT, cloud, analytics, payments, anti-fraud, advertising), and may be stored or processed outside Vietnam. MoMo says it does not share data with third parties for their direct marketing without consent, and contact-list access is optional. In its favour: the security page lists ISO 27001:2022 and ISO 27701:2019 certification, users can access, correct, delete and withdraw consent, and the app has a Personal Data Management tool. Gaps: retention is described only as "as long as needed for the stated purposes or by law", the policy does not name Decree 13/2023, and AppGoblin lists advertising and analytics SDKs from Google, Facebook and AppsFlyer in the Android app.

Official pricing page

MoMo alternatives

MoMo logoVSZalopay logoMoMo vs Zalopay
Viettel Money logo7.4/10

Viettel Money

Viettel's wallet: transfers, bills, phone top-ups and a Mobile Money account

Free
MB Bank logo7.4/10

MB Bank

MB's banking app: free transfers, online sign-up and strong store ratings

Free
All alternatives

Frequently asked questions

Is MoMo free?

Installing and using the wallet is free. Some services carry fees shown in the app before confirmation; the homepage lists Pay Later at 33,000 ₫/month and the hotline at 1,000 ₫/minute.

What is the maximum MoMo wallet balance?

Under the terms effective 30 Sep 2026, the maximum balance is 200,000,000 ₫, which MoMo may adjust with in-app notice. Transfers plus payments from one personal wallet are capped at 100,000,000 ₫ a month.

What is needed to verify a MoMo account?

The terms require registration, identification and biometric verification under State Bank of Vietnam rules, matched against ID documents or VNeID, plus linking your own bank account or card. Users aged 15 to under 18 can register under MoMo's separate conditions.

What if I am scammed or send money by mistake?

File a dispute within 60 days of the transaction through the 1900 5454 41 hotline or in-app support. The terms commit to a response within 30 working days; MoMo advises never sharing OTPs and runs a safety hotline at 1900 63 68 05.

Is MoMo safe?

MoMo holds a State Bank of Vietnam e-wallet licence and states ISO 27001:2022, ISO 27701:2019 and PCI DSS level 1 certification. The main practical risk is impersonation scams, so install only from official stores and never share OTPs.

Review evidence & sources12

Scores

Ease of use
7.8
Why this score

Ratings of 4.4/5 on the App Store and 4.2/5 on Google Play, and the home screen groups the main shortcuts (transfers, bills, top-ups). Marked down because the app packs in many services and full use needs biometric verification and a linked bank account.

Features
8.5
Why this score

Over 100 services per the about page: QR payments including abroad, spending management, group funds, Pay Later, quick loans, insurance, vehicle services and an AI assistant. Not 9+ because many financial products come from partners and there is no independent evaluation of each service.

Value for money
8.0
Why this score

The wallet is free and per-service fees are shown before confirmation. Marked down for the lack of a consolidated fee schedule, Pay Later at 33,000 ₫/month per the homepage, and capped wallet limits.

Performance
7.2
Why this score

No independent data on speed or uptime. iOS 5.18.0 (1 Nov 2026) and an Android update on 2 Nov 2026 show regular maintenance; the Google Play rating of 4.2 trails the App Store's 4.4.

Support
7.0
Why this score

A hotline, in-app support, a dispute process with clear deadlines and regular scam warnings on official pages. Marked down because hotline calls cost 1,000 ₫/minute and the terms say 24/7 while the website footer lists weekday office hours.

Privacy & security
6.3
Why this score

ISO 27001:2022 and ISO 27701:2019 as stated, plus rights to access, delete and withdraw consent. Marked down for broad collection (biometrics, location, partner data), sharing with many third-party groups, possible processing outside Vietnam, a generic retention period and advertising SDKs in the Android app.

What users say

Sources

Specs & compatibility
Developer
Công ty Cổ phần Dịch vụ Di động Trực tuyến (M_Service)
Headquarters
Vietnam
Launched
2010
Category
Finance

Capabilities

  • AI features
  • Integrations
  • Mobile app

Platforms

  • iOS
  • Android

Interface languages

  • Vietnamese
  • English

Integrations

  • Visa
  • Mastercard
  • JCB
  • Ngân hàng liên kết
  • VNeID
  • ePass

Support

  • Phone
  • Live chat
  • Help center

Change history

  1. Feature.iOS version 5.18.0 is released; the app is now listed as "MoMo-Trợ Thủ Tài Chính với AI" (AI financial assistant).
  2. Company.The Investor reports investors are weighing a purchase of up to 50% of MoMo at a valuation of up to $3 billion, citing press reports not confirmed by MoMo in the article.
  3. Feature.MoMo announces a feature that pauses transactions with unusual signs before the user confirms.
Full change history (6)
  1. Update.MoMo announces 20 million users at its 10-year mark, double the 10 million at the start of 2019.
  2. Company.The State Bank of Vietnam grants M_Service an e-wallet licence, following a 2009 trial licence.
  3. Company.The company (now M_Service, operator of MoMo) is founded in 2007 (month not specified).
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