Topic: Choose an existing product, business or service and

describe its features.

Nowadays, technology is increasingly developing, which leads to more and more

intelligent applications on mobile platforms being created to serve human life. In fact,
the need to change the method of payment from cash to bank transfer or e-wallet is
increasing more and more, so people started to use e-wallet applications on mobile
phones instead of traditional wallets, especially people in Vietnam began to trust and
use e-wallets called Momo.

When it comes to the Momo app on mobile, Vietnamese people think that this is an
e-wallet and banking software that helps users to make digital purchases and
transfers. Furthermore, the brand MoMo is owned by Online Mobile Services Joint
Stock Company (M_Service) which is the leading provider of e-wallet application
services on cell phones, cash conversion service at transaction points (OTC), and
payment network in Vietnam.

There are several advantages which can be reaped from using Momo wallet, the
most of which are convenience and security. As for the convenience, by partnering
strategically with banks and financial institutions, MoMo Wallet encourages a
cashless economy and offers consumers a one-touch payment interface with
hundreds of utility utilities such as remittance, bill payment, buy air tickets, train
tickets, movie tickets, and mobile commerce.By doing that, Vietnamese users can
conveniently pay fees with one touch. Regarding the security, MoMo Wallet employs
innovative and excellent authentication technology such as: two-factor
authentication, authentication by fingerprint or facial recognition, and automatically
locking apps while in use, so users can be assured of the application's security.

Despite the aforementioned benefits, using the e-wallet payment, can have several
downsides which are worth being considered. One of the main issues is that many
people are now unable to use the momo e-wallet because they do not trust the
Internet. Furthermore, consumption is determined by preferences and the fact that
cash is tolerated everywhere, whereas digital payments are not. In addition,momo
has a relatively high fee for withdrawing and transferring money compared to that at
the bank. In fact, when you withdraw cash from your bank account, it just takes
around 1000 VND, but when you withdraw cash from the Momo e-wallet, you could
lose up to 35,000 VND in fees. Not only that, but if you want to withdraw cash, you'll
have to go to Momo wallet withdrawal points, which aren't as common as ATMs and
must be found using the Momo e-wallet app.
In conclusion, while using Momo, an e-wallet, can be beneficial to convenient and
secure payment, it also has several drawbacks in user views and cash withdrawals.