“Moca e-Wallet Discontinues Services Effective July 1st, 2024”

Moca e-wallet announces discontinuation of services to customers

Moca e-wallet announces discontinuation of services to customers

In their announcement, Moca Technology and Services Joint Stock Company (Moca) has carefully evaluated and decided to implement a restructuring strategy aimed at sustainable growth. As a result, Moca will discontinue its Moca e-wallet services from July 1, 2024.

If customers have a remaining balance in their Moca e-wallet, they can fully manage this balance by spending it on services or withdrawing it to their linked bank account/card that is still active until June 30, 2024.

From July 1, 2024, Moca will initiate a refund process for users who still have a balance in their account. Moca assures that the discontinuation of the e-wallet service and the refund process will be carried out with the highest commitment to the rights and interests of its users. They also request that customers take the time to review this information and cooperate with the company by following the provided instructions to ensure a smooth and swift refund process.

According to Moca’s announcement, if users still have a balance in their Moca e-wallet after June 30, 2024, Moca will implement a refund process in the following priority order:

• If the linked bank account/card associated with the Moca e-wallet is still valid, the remaining balance in the e-wallet will be automatically withdrawn and refunded to the linked bank account/card. This process is expected to be completed by July 31, 2024, at the latest.

• In the event that the automatic refund process fails for any reason, Moca will notify customers after July 15, 2024, and provide the necessary instructions to facilitate the refund of the remaining balance to the customer’s designated account.

Additionally, the withdrawal limit from the Moca e-wallet on the Grab application to a bank account is as follows:

Moca e-wallet is a payment wallet integrated into the Grab application exclusively for users in Vietnam. It is a collaboration between Grab and Moca to bring the most convenient cashless payment options to Grab users when utilizing services such as ride-hailing, food delivery, grocery shopping, and bill payments.

While the Moca e-wallet has been available since August 26, 2016, on the electronic trading floor, it gained more attention in mid-2019 when the Covid pandemic hit. This was because people needed to limit their outdoor activities and relied more on online transactions for payments and shopping.

On April 2, 2024, Moca officially changed its headquarter address to the PVI Building, 1 Pham Van Bach, Yen Hoa Ward, Cau Giay District, Hanoi.

After this move, Moca also announced that it would discontinue bill payment services on the Grab application, as well as stop providing bill payment and mobile top-up services on the Moca application from May 31, 2024.

Khang Di

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