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CBM to approve QR code payment transactions soon

Digital payments using QR codes will be introduced to Myanmar as soon as the framework for such payments are ready. Shanghai-based financial services company UnionPay International’s (UPI) QR code system accessible through mobile phones would be made available when the Central Bank of Myanmar (CBM) makes the official announcement. UPI operates as a subsidiary of […]

Fintech firms partner to expand reach in Myanmar

Local digital payments provider Ongo and mobile data operator Ananda yesterday announced a partnership to expand the reach of their services in Myanmar. Under the agreement, Ananda users will have the added option of topping up their accounts at Ongo agents across the country as well as on its mobile application when they sign up […]

GrabPay sets sights on Cambodia and Myanmar

Southeast Asia’s largest ride-hailing group plans to take its mobile payments service into Cambodia and Myanmar as it expands its range of businesses throughout ASEAN countries, according to a senior executive. Reuben Lai, senior managing director of the Singapore-based company’s financial arm, identified the two countries as next on the list. Grab’s ride-hailing app is […]

The company lighting up rural Myanmar with affordable solar technology

Since launching its pilot programme in 2016, SolarHome has helped Myanmar find alternative energy options by providing unprecedented electricity access to underserved households. Ted Martynov, the company’s CEO, broke down SolarHome’s business and the energy situation in the country Tell us about SolarHome… SolarHome is one of the first distributors in pay-as-you-go solar for off-grid […]

CB Bank successfully adapting to meet the needs of a new generation

Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]

Myanmar’s mobile money services poised for expansion

THE rapid increase in the ranks of smartphone users in Myanmar is providing opportunities for the marketing of mobile money services in the country, a forum has heard. Stephen Swan, head of product and digital at Wave Money Myanmar, which provides the nation’s leading mobile wallet, said mobile penetration rates in Myanmar had exceeded all […]

Mastercard to keep high growth rate in Myanmar

Ravinder Aurora, executive director for global public policy and community relations at Mastercard, said at a press conference yesterday that the company enjoyed double digit growth in terms of the number of card users and transaction value by using the cards every year. “Currently, I believe there are roughly about 2 million cards within the […]