Coming together provides greater convenience to OCB customers in using M Service's app to transfer money and pay bills.
The Orient Commercial Joint Stock Bank (OCB) and the M Service Company signed a partnership agreement on August 15, with customers of OCB being able to use M Service’s MoMo app to conduct financial transactions and pay bills.
When connecting to their OCB bank account via the MoMo app, customers can transfer money from their MoMo “wallet” into an OCB bank account and vice-versa. As MoMo has a total of 3,000 transaction points in 38 cities and provinces in Vietnam, the partnership will provide OCB customers with more convenience in using OCB services where the bank has no transaction points.
The partnership will also help customers use MoMo when paying electricity, water, internet, and cable TV bills, and well as when buying cinema tickets and topping up their mobile phone accounts, among others.
MoMo currently has about 500,000 users.
Mr. Truong Dinh Long, Deputy Director of OCB, said that the partnership will provide more value to customers as MoMo is a modern method that helps customers access bank and other services.