Japanese bank to outlay $170mln for 7.5% of MoMo owner

Japan’s Mizuho Bank will spend ¥20 billion ($170 million) on acquiring a 7.5 per cent stake in M-Service, the owner of MoMo e-wallet, one of the leading payment applications in Vietnam with 20 million users. Established in 2007 and headquartered in Ho Chi Minh City, M-Service is trying to turn MoMo into a super application that allows users to access various services.