AYA SOMPO Insurance rides on heightened demand for insurance for growth

The COVID-19 pandemic has raised awareness on the need for insurance among the Myanmar people and insurance providers in the country are innovating fast to capitalise on growing interest. “Most workers do not feel safe and worry about their health in the workplace as a result of COVID-19,” said U Zin Maung, an employee at […]

AYA Bank to Launch Mobile Wallet

AYA Bank announced that it is soon to launch its AYA Pay mobile wallet. Designed to meet the growing needs of a mobile population, the platform will harness the latest financial technology solutions to deliver reliable, secure and instantaneous payments, according to the bank. “We hope that soon AYA Pay’s unique financial ecosystem will be […]

YCDC taxes can be paid by mobile phone from 1 Oct

YANGONITES will be able to pay Yangon City Development Committee’s (YCDC) taxes by mobile phone from 1 October. The mobile payment system for taxes was launched at a ceremony held on 12 September at the Yangon City Hall. The mobile payment system was introduced with the aim of facilitating the payment of YCDC taxes. It […]

US Tech Firm Diebold Nixdorf Opens in Myanmar

​​ DIEBOLD NIXDORF, a leading US tech firm with a presence in more than 130 countries, announced the opening of its office in Myanmar’s commercial hub. Neil Emerson, the firm’s senior vice president and managing director for Asia Pacific, said that its customers’ positive feedback and satisfaction drove them to establish an on-the-ground presence in […]

Visa Hits Out at Central Bank Regulations

​​ Central bank regulations that bar people with domestically- issued Visa cards from making transactions within Myanmar are hindering the company’s expansion plans, according to a senior executive. Arturo Planell, Visa’s Country Manager for Myanmar, said last week that the regulations were one of the reasons electronic payments have failed to make bigger inroads in […]

Visa Bullish on Nationwide Growth in Myanmar

​​ S ONLY 0.5 per cent of the population has access to electronic payments so far, Visa Inc, the global payments firm, sees a lot of room for improvement in Myanmar. Arturo Planell, Visa country manager for Myanmar, said at a press conference last week that the number of Visa cards in the country had […]

More transparency needed from local business: MCRB

A select few Myanmar firms display a higher level of transparency than most of their ASEAN peers, but many large companies continue to show little interest in disclosure – even when legally required – according to a recent report from the Myanmar Centre for Responsible Business (MCRB). There is huge variation in the approach Myanmar’s […]