Motives for Gen Z to

switch from cash to

Momo

 Group 2

Ngân Hà Hạ Sang

Hải Băng Nguyên Chương Giang

TABLE OF CONTENT

Industry overview
Literature review
Research methodology
Research result
Research implication
Conclusions
 1. Industry Overview

The worldwide mobile wallet industry was worth USD 6.2 billion in 2021
With a market share of more than 30.0% in 2021, Asia Pacific is expected to
maintain its position throughout the projected period.
E wallet in Vietnam is forecasted to
reach over 48 billion U.S. dollars by
2025

Cash payments are expected to

fall sharply, from 26% in 2019 to
15% in 2023
 Momo was founded in 2007 by
Diep Nguyen and Tuong
Nguyen
MoMo started as a mobile
service using a Vinaphone sim
card, then in 2013, the company
started to implement a mobile
payment application for
handsets
Achievements 08/2016: Received The
Payment Card Industry
Data Security Standard
(PCI DSS) Certificate. .

4/2022: Momo reached 10

million users in Finance 10/01/2019: The Asian
and Insurance Banker honored MoMo as
“E-Wallet of the year”.
Research objectives
Explore the motives for Gen Z to
switch from cash to Momo

Explore the most important motive for

Gen Z to switch from cash to Momo

Propose suitable recommendations for

Momo to further development
2. Literature Review

Definition
Gen Z

Motivation
regarded as being very familiar with the internet
 Motivation, whether defined
as a drive or a need, is a state
within ourselves that demands
a change, either in us or in
our surroundings. It is the
process of stimulating people
to actions to accomplish the
goals.
Theories
Abraham
Maslow's
hierarchy
of needs
McGuire’s Psychological Motivations
 3. RESEARCH METHODOLOGY
SECONDARY RESEARCH
collected from reliable sources

QUALITATIVE RESEARCH
focus groups

QUANTITATIVE
QUANTITATIVE
RESEARCH
RESEARCH
Google form
Qualitative
research

4. Research
Quantitative
research

results
 Qualitative research
2 mini focus groups (6 for each group)
From 18–19-year-old
University students living, studying, and working in southern cities
=> Motives for Gen Z in moving from cash to MoMo cashless payment.
Finding 1: Is cash the optimal
payment method?

Finding 2: What are some motives

for Gen Z switching from cash to
Momo?
 Is cash the optimal payment method?
"In my opinion, it depends on the case, but if Momo is
more convenient, it's because you only need a phone. If I
have a network, it's OK but there are times when I'm in
Users found cash places where it doesn't accept or if I have a network, it's
better to use cash, but it depends on the case, so That's
payment inconvenient.
what I am

Development in technology
"I think most of Momo can be used in
shops, restaurants, and cafes, so it's very
convenient because you just need to use
it. You only need a phone, you can pay
changes user’s payment
by Momo, so Momo can pay at shops and habit
cafes is an advantage for a person who
can never pay. have cash like me.
Finding 2: What are some motives for Gen Z

switching from cash to Momo?

Word of mouth
Impact from their friends

The appealing of deals

and merchandise
Security
Securityand
and

credibility
credibility
Safe Harm
Well-designed and
convenient digital payment
apps.
12/12 respondents mentioning it as
one of the reasons why they keep
using Momo
Quantitative research
5. RESEARCH
IMPLICATION
Momo should promote its payment
method to more cities in the country,
not just central cities.

Momo should continuously invest in

the design, use, interface, and
background of the application.

The company should continue to

push promotions to attract Gen Z
consumers and win their loyalty in
the long run.
6. Conclusion
Firstly, the main reason for this
motivation is the inconvenience
of the cash payment method
Secondly, the reasons why
consumers make the decision
to continue using Momo are
convenience, coverage and
promotions.
 THANK YOU
FOR LISTENING
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