Financial technology company MoMo and Saigontourist Travel, a subsidiary of Saigontourist Group, announced a strategic partnership on Sept. 18 to combine travel products with technology and payment services.

Under the agreement, Saigontourist Travel will expand the distribution of its products on MoMo, while the two companies develop promotions and use data and technology to analyze customer needs and improve user experience and marketing efficiency.

The partnership will also expand payment options for Vietnamese traveling abroad. MoMo supports payments in more than 60 countries and territories, including popular destinations such as China, Thailand, South Korea and Japan.

Nguyen Hoanh Tien (C), Senior Vice President of Marketing and Distribution Services at MoMo, speaking at the signing ceremony. Photo courtesy of MoMo

In China, users can scan MoMo QR codes at more than 40 million payment points within the Alipay and WeChat networks. In Thailand, MoMo supports Thai QR, PromptPay, Alipay and VietQR Global at millions of payment locations. According to the company, these services can reduce travelers' need to carry cash or prepare additional international payment cards. The company said it uses transparent exchange rates and does not charge service fees for these transactions.

MoMo and Saigontourist Group will also offer promotions linked to travel products and payments. New customers making their first QR-code payment with MoMo can currently receive discounts of up to 50%, capped at VND100,000, at eligible locations.

MoMo and Saigontourist Group’s representatives at the signing ceremony on Sept. 18. Photo courtesy of MoMo

Nguyen Ba Diep, Senior Vice President and co-founder of MoMo, said that both companies are working together to deliver a seamless customer journey, from booking tickets and accommodation to making payments at destinations.

Nguyen Thanh Luu, general director of Saigontourist Travel, said the company's digital transformation covers how it studies customer needs, develops products, reaches travelers and provides services.

"The partnership with MoMo combines Saigontourist Travel's brand, organizational capabilities, and travel ecosystem with MoMo's technology platform, payment capabilities, and user base," Luu said.

Nguyen Thanh Luu, general director of Saigontourist Travel, speaking at the event. Photo courtesy of MoMo

MoMo has around 30 million users, while Saigontourist Travel has operated in the travel industry for about half a century.

The partnership will also combine MoMo's technology, user base and payment infrastructure with Saigontourist Travel's experience in tour operations and travel products, with a focus on product distribution, promotions, data applications and payment services.