The collaboration agreement signed by Netstars Vietnam, and M service aims to promote non-cash payment services and digital merchant tools for grocery stores in Vietnam. While Netstars has the biggest market share in multi QR payment solutions in the Japan market, its local arm has also integrated with most leading banks and e-wallets in Vietnam, accepting payment for more than 80 percent of mobile banking and e-wallet applications from the market. Along with payment solutions, Netstars Vietnam also provides a smartphone-based shop management APP Tete Shop for grocery stores with more than 10,000 registered shops.
Amid the covid pandemic, most traditional business activities are being affected. The partnership intends to enable grocery stores to easily receive payments both online and offline via Tete Shop service. This will help merchants to faceless physical conduct and reduce the risk of Covid infection. Currently, Momo has more than 25 million users in Vietnam and this partnership will also make Momo users more convenient to shop safely amid the Covid situation.
Netstars Vietnam has demonstrated its commitment to constantly developing products to bring professional solutions to grocery stores and its passion to contribute to the development of Vietnam society. Two parties plan to also work closely together to promote and expand Tete Shop and Momo Super App to the remote, rural, and isolated areas with the goal of helping digital transform for 1.4 million grocery stores in Vietnam.