Images showing the e-wallet market by share of active users by Robocash Group. (Photo courtesy of Robocash Group)

Robocash Group said in a report that Vietnam’s e-wallet market is booming with 90% falling on three wallets: Momo, Moca and ZaloPay.

The country is seeing tough competition, given that there are 40 electronic wallets in operation including ShopeePay (AirPay), ViettelPay and VNPT Pay, the report said.

The Vietnamese e-wallet market can compete with traditional or digital banking, Robocash said, adding that the current six super apps mentioned above have unlimited potential to attract new customers not only within Vietnam itself, but also beyond its borders.