MoMo is offering 50 per cent cashback on November 1.

The e-wallet said the promotion follows the huge success of its first cashback programme in August, which had to wrap up earlier than planned because of overwhelming demand.

This time the cashback would also apply at petrol stations and hospitals besides supermarkets, convenience stores, and food and beverage stores, it said.

A customer could avail the cashback a maximum of four times and up to VND100,000 each time.

The cash would be automatically credited to the customer’s MoMo account, the company said.

Merchants joining the programme include Co-opmart, LOTTE Mart, Circle K, Ministop, GS25, PV Oil, Comeco, Timexco, and HCM City University of Medicine and Pharmacy.

MoMo e-wallet, belonging to M_Service, has become one of the leaders in e-payment in the country. It has tied up with 20 banks and has 10,000 partners in various sectors like power, telecommunications, insurance, entertainment, e-commerce, and food and beverages.

Around 100,000 stores in 63 provinces and cities accept payment by MoMo.

MoMo has received investment from Goldman Sachs, Standard Chartered Private Equity and Warburg Pincus. — VNS