The individual business household sector currently accounts for a large proportion of the Vietnamese economy, with more than 5 million business households, contributing about 30% of GDP and creating livelihoods for tens of millions of workers. However, the scale of the sector is still small and based on personal experience, cash and manual management methods.
Born 15 years ago and pioneering in the wave of cashless payments, Momo started from very basic needs: transferring and receiving money faster, easier and safer every day. From small transactions such as coffee cups or items in the market, MoMo has gradually become a powerful tool for small traders.
QR universalization: "a lever" to connect MoMo with small traders
From the core needs of small traders to receive money quickly, conveniently and safely, MoMo expanded from a personal platform to a business household, gradually replacing the inadequacies of cash payments. In 2017, MoMo pioneered the deployment of QR code payments in Vietnam with first partners such as The Coffee House or Milano Coffee. Along with the development of infrastructure and the habit of cashless payments, especially during the Covid-19 period, QR gradually became a familiar means of selling goods. To date, MoMo has more than 500,000 small traders and business households using QR to receive payments.
MoMo continuously improves QR forms: from static QR, dynamic QR, to multi-functional QR allowing to receive money from many banks. Each business household is issued a QR code linked to the MoMo Business account by MoMo. When customers scan the code, the transaction is completed in an instant and confirmed through the notification speaker.
In addition, MoMo also develops personal QRs on users' smartphones and smartwatches, creating a convenient and seamless payment process. With this model, the cashier only takes 1-2 seconds to receive payment, and the user experience is optimized by reducing manual operations.
Digital tools help small traders operate transparently and methodically
When digital payment becomes familiar, the next need of small traders is to manage cash flow more effectively without increasing the operating burden. On that platform, MoMo gradually adds tools to help business households "see" financial activities more intuitively.
The easiest to see is the MoMo transfer notification loudspeaker, which helps confirm transactions right at the point of sale. For many small traders, the loudspeaker is a new "ear" - sellers can confidently serve without stopping to check their phones, limiting the risk of fraud during peak hours.
At the deep management level, MoMo for Business allows tracking revenue, transaction history and system cash flow. Thanks to connecting with sales management software, small traders have more tools to control warehouses and costs, helping to reduce sales errors, save operating costs and improve profit margins.
MoMo also supports small traders to expand sales without major investment in marketing. Delivery integrations, incentives with partners, or tools to help increase presence such as Business Page and MoMo Discovery all aim to reduce "off-selling" tasks, so that small traders can focus on core operations.
Smart management to adapt to new business contexts
As digital tools become more and more popular, revenue and cost management gradually shifts towards transparency and data-based. For many small traders who are used to selling goods by manual recording, the challenge lies in how to "see" business operations more clearly: how much is sold today, how much money flows in and out, and what needs to be prepared for the next stage.
In that context, the tools MoMo builds – from QR payments, counterfeit transactions to cash flow management – become a platform to support small traders to adapt to new operations. Multi-channel and delivery business tools are integrated to support tracking and expanding sales channels. At the same time, MoMo provides electronic invoice services, digital signatures or online tax declarations through cooperation with technology partners. This platform also opens up digital financial solutions such as Pay Later Wallets or Quick Loans, meeting short-term capital needs for daily business.
As digital tools are simplified for daily use, digital platforms like MoMo are powerful "assistants" for small traders to proactively operate more methodically and sustainably in the digital economy.
