MoMo vs ZaloPay vs ViettelPay — Vietnam E-Wallet Comparison (2026)

MoMo, ZaloPay, and ViettelPay are the three e-wallets that matter most in Vietnam. This page compares them by ownership, user base, primary use cases, and the situations in which each is the right default. User counts are each operator's own figure with its date; usage shares come from Decision Lab's Q2 2024 survey. ViettelPay is now branded Viettel Money.

At a glance

Dimension MoMoZaloPayViettelPay
Operator M_Service JSCVNG CorporationViettel Digital Services Corporation (Viettel Group)
Launched 201020172018
Users (operator-reported) 30+ million (October 2026)22+ million (August 2026)nearly 30 million (April 2025)
Used by (Decision Lab, Q2 2024) 62% of panel43% of panel25% of panel
Primary strength Largest user base, deepest agent network, broadest merchant acceptanceNative Zalo messaging integration, social-payment UXTelecom-backed distribution, rural reach via Viettel store network
Best for General consumer payments, P2P transfers, bill payments, mini-app servicesSending money inside chats, splitting bills with friends, Zalo OA storefront purchasesRural users, mobile top-ups, government and utility payments, ID-verified KYC

Deep-Dive Comparison

MoMo (M_Service JSC)

Market leader
MoMo, operated by M_Service JSC, is the most used e-wallet in Vietnam in Decision Lab's surveys. It runs the country's most extensive cash-in / cash-out agent network — small shops across cities and rural districts where users can top up their balance without a bank account. MoMo also exposes a mini-app platform inside its main app, hosting third-party services for bill payments, transit, insurance, lending, and savings. For most general consumer payments, ride-hailing tips, and peer transfers, MoMo is the default in Vietnamese urban markets.
Acceptance footprint: Broadest of the three. Most major e-commerce platforms, food-delivery apps, supermarket chains, convenience stores, and a long tail of small merchants accept MoMo via QR code or in-app checkout.

ZaloPay (VNG Corporation)

Social payments
ZaloPay, built by VNG Corporation, lives inside the Zalo messaging app — the most widely used messaging platform in Vietnam. Its native advantage is social payments: sending money inside a chat, splitting a restaurant bill in a group, or paying a Zalo Official Account merchant directly from a conversation. ZaloPay's user base is smaller than MoMo's but skews younger and more social-commerce-active.
Acceptance footprint: Strong on Zalo OA merchant storefronts; moderate but growing on general e-commerce and offline retail. Often available as a secondary payment option alongside MoMo.

ViettelPay (Viettel Group)

Telecom & rural reach
ViettelPay is operated by Viettel Digital Services Corporation, a subsidiary of state-owned telecom giant Viettel Group. Its differentiator is distribution: every Viettel telecom point of sale across Vietnam — including tier-3 cities, towns, and rural communes where bank branches are sparse — serves as a ViettelPay registration and top-up location. That gives ViettelPay structural reach into demographics other wallets struggle to onboard.
Acceptance footprint: Strong on government services, mobile top-ups, utility bill payments, and merchants in Viettel-heavy areas. Less dominant in urban-millennial e-commerce contexts than MoMo or ZaloPay.

How to choose

  • Building a consumer app or e-commerce checkout? Integrate MoMo first for reach, then ZaloPay for social-commerce coverage.
  • Targeting Zalo-native audiences? ZaloPay's chat-embedded payment flow is the highest-conversion path.
  • Rolling out to rural areas or utility payments? ViettelPay's agent network and government-service integrations are unmatched.
  • Want one universal acceptance method? Use VietQR alongside any wallet — every bank app and most e-wallets honour it.

Frequently Asked Questions

Which e-wallet has the most users in Vietnam?

MoMo is the most used: 62% of Decision Lab's online panel used it in Q2 2024, against 43% for ZaloPay and 25% for ViettelPay. By their own counts, MoMo has 30+ million (October 2026) users, Viettel Money nearly 30 million (April 2025) and Zalopay 22+ million (August 2026). Each operator counts differently and people hold several wallets, so compare usage rather than user counts.

Which Vietnamese e-wallet should a foreign business integrate first?

For consumer-facing merchants seeking the widest reach, MoMo is the typical first integration due to its user base and acceptance footprint. For services targeting younger or social-first audiences, ZaloPay's Zalo Official Account integration is valuable. ViettelPay matters most for use cases requiring rural penetration or government/utility billing.

Can foreign visitors use MoMo, ZaloPay, or ViettelPay?

All three wallets are designed for Vietnamese residents and require a Vietnamese ID document (CCCD), a Vietnamese bank account, and a Vietnamese mobile number for full KYC. Foreign visitors typically cannot complete onboarding without these, though limited functionality may work for those with long-term residence permits.

What is the difference between MoMo and VietQR?

MoMo is a private e-wallet operator with its own user balance and merchant network. VietQR is a national QR standard, operated by NAPAS, that lets any bank or licensed payment provider accept payments via a single interoperable QR code. MoMo participates in VietQR — many MoMo merchants accept VietQR codes that work across all banks and wallets.

Which wallet is best for receiving payments as a small Vietnamese seller?

For online and social-commerce sellers, MoMo and VietQR (via any bank app) are the most commonly accepted by Vietnamese buyers. For sellers with a Zalo Official Account storefront, ZaloPay integration is friction-free. ViettelPay is well-suited to sellers in tier-3 cities and rural areas where Viettel's network is strongest.

Related Resources

Vietnam Payments System — Full Overview → VNPay vs MoMo vs ZaloPay → PSP Fee Calculator → Vietnam Digital Payments Insights →

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