Abstract
The mobile payment industry of Vietnam is still in its infancy and is expected to bring massive benefits to an economy if more people shift the habit of not paying cash because it allows for a cheaper way to extend financial services to current users of financial services, especially the unbanked. The purpose of this study was to find out the current pictures of mobile payment market in Vietnam, the policy and government support for mobile payment sectors, and the opportunities and challenges that the mobile payments providers need to notice to promote their services. The case of Momo - the first and largest mobile wallet and application in Vietnam - was analyzed to have deeper insights and provide recommendations for this business model.