Singapore Firm Acquires Stake in Myanmar Payment Company

Singapore-based payments firm fastacash has made a strategic investment in Myanmar-focused payments company, MyPAY. MyPAY, which is developing a mobile payment system, also has a strategic partnership with local social network MySQUAR, which claims to have 1.5 million user accounts. However, a fastach spokesperson told Myanmar Business Today that the firm “won’t be able to […]

Visa Opens Myanmar Office Banking on High Growth

American payment giant Visa Inc has opened an office in Yangon in a bid to expand its growing footprint in Myanmar’s nascent electronic payments market. Visa said since entering the country in October 2012 it has seen “considerable growth” in the uptake of electronic payments. Last year, transaction volume, payment volume and card numbers have […]

Ecommerce services for payment to start

Local consumers are increasingly taking to the web to make a deal, yet paying for products is still a major headache. While services like US-based PayPal and China’s AliPay are making it easy for seamless e-commerce around the world, Myanmar is still a cash-based society, with few of the solutions that has helped drive online […]

Red Dot Payment raises series A round to bring payment solution to Myanmar

With ecommerce on the rise in Asia, it is only natural that payment solutions will soon follow suit in order to keep up. It therefore comes as no surprise that Red Dot Payment, a Singapore-based online payment processing company with a focus on Southeast Asia, has announced that they have secured series A funding “in […]