Pay like a local in Southeast Asia with Moreta Pay App
When we first arrived in Bangkok, Thailand, we saw that all the locals were able to pay by QR code. We asked around a bit and the basic answer was you needed to have a local bank account to be able to use an app to pay. As US citizens traveling abroad, we wouldn’t have local bank accounts in each country we visit.
We didn’t think much more about it. Until we joined a retired nomad Facebook group and went to our first meet up in Da Nang, Vietnam. That was when our life changed. Dramatic, but true. As we chatted about favorite spots in Southeast Asia, the best local foods, and the all-too-familiar problem of being stuck with leftover bills in a handful of currencies, someone mentioned an app that let them pay via QR code instead.
This is where we learned about the Moreta Pay app and it has truly been a game changer! You scan the same QR code the local guy in front of you scans, and the app bridges the gap between your bank and the country’s payment network.
The app is free and “deposits are free when you add more than 250 USD, 200 GBP, or 225 EUR, except for card deposits. For smaller deposits, the fee is 1 USD for US bank transfers, 1.50 USD for EUR and UK bank transfers, and 2.5% for card deposits with a minimum of 1.50 USD. Withdrawals to US banks cost 1 USD plus 0.5%, while withdrawals to EUR and UK banks cost 1.50 USD plus 0.5%.” Check the Moreta Pay website for current information.
How Moreta Pay Works
According to their website, “Moreta Pay is a mobile payment platform that allows travelers to tap into local payment networks in Thailand, the Philippines, Vietnam and several other countries throughout Southeast Asia, all without needing a local bank account.” All you have to do is download the app, set up the account and verify your identity. Once you’ve done that, you can determine the payment method you’ll use. You can make a deposit with a bank connection, bank transfer or credit card. You can top it off as needed. A benefit of transferring cash is that you can transfer any left over cash back to your bank when you’re no longer traveling.
To make a payment, just scan a vendor’s QR code with the app. They may have a laminated QR code, a little plexiglass display or a code on your bill. Depending on how the vendor has it set up, it will either auto-populate the amount due or you type it in. Then you swipe to pay and show the vendor when it’s complete. They will either take a picture with their phone or just nod and smile. Either way, you’re done!
Something to keep in mind is with Moreta Pay, your funds are in your local currency. The currency exchange happens when you make a payment. That way you get the most current rates.
We came across many stores, coffee shops and restaurants that said “cash only” and for the first few months of our trip, we thought that really meant cash. Once we learned about Moreta Pay, we knew that “cash only” just means no credit cards. Scan away!
Current countries where this is available are listed on the Moreta Pay website. They continue to add countries including Latin America.
