The collaboration agreement signed between Netstars Vietnam and M service aims to promote cashless payment services and digital merchant tools for grocery stores in Vietnam. While Netstars holds the largest market share for multi QR payment solutions in the Japanese market, its local branch has also integrated with most of the major banks and e-wallets in Vietnam, accepting payment from over 80% of mobile banking and electronic wallet applications in the market. In addition to payment solutions, Netstars Vietnam also offers a smartphone-based store management application, Tete Shop, for grocery stores with more than 10,000 registered stores.
In the midst of the covid pandemic, most traditional business activities are affected. The partnership aims to make it easy for grocery stores to receive online and offline payments through the Tete Shop service. This will help traders adopt faceless physical behavior and reduce the risk of Covid infection. Currently, Momo has over 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 develop products to bring professional solutions to grocery stores and its passion to contribute to the development of Vietnamese society. Two parties also plan to work closely together to promote and extend Tete Shop and Momo Super App to remote, rural and remote areas with the aim of helping the digital transformation of 1.4 million grocery stores in Vietnam.