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. 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 who 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.

Several advantages can be reaped from using Momo wallet, most of which are
convenience and security. As for 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 this, Vietnamese users can conveniently pay fees with one
touch. Regarding 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. 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.