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With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion

Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services, according to a new report by social enterprise ONOW Myanmar. But fintech and mobile technology […]

Testing out electronic pension delivery in Myanmar

When delivering pensions to Myanmar’s remote villages, you might assume the only option is for an official to hand over the cash to each older man and woman in person. Surely these older people do not have access to the technology or bank accounts needed to send cash electronically, right? Well, that’s not the reality. […]

Bursting the red balloon

The only surprising thing about the failure of payment service provider Red Dot was the apparent suddenness with which the company departed. For months – if not years – it had seemed that the company was on its last legs. Fewer terminals were active and agents had reported that it was becoming increasingly difficult to […]

GrabPay Mobile Wallet Will Likely Hit Myanmar in 2019

After Grab’s launch into Myanmar in 2017, the ride-hailing giant intends to follow-up with the expansion of their e-wallet GrabPay, in the ride-hailing giant’s ongoing Southeast Asia takeover strategy. GrabPay is considering Myanmar alongside Cambodia for expansion of its mobile payments service, along with a potential expansion of its range of business throughout ASEAN countries, […]

Blockchain Wallet Everex Partners with Myanmar-Based MicroMoney

Ethereum-based blockchain developer Everex announced today that it has officially entered into a partnership with Myanmar-based microlender MicroMoney. Everex now has access to MicroMoney’s more than 450,000 unique customers and registered users. “We chose to partner with Everex because it is the easiest way to deliver money to our customers,” says MicroMoney’s Anton Dziatkovskii. “You […]

Grab is adding Myanmar’s Wave Money to its mobile wallet

Ride-hailing and mobile payments startup Grab is partnering with Wave Money in Myanmar. Drivers will be able to sign up for emoney accounts that let them cash out their daily earnings at one of Wave’s 9,000 shops across Myanmar, Grab said in a statement today. Grab also plans to integrate Wave Money’s digital wallet with […]

Digitizing Myanmar: How This FinTech Company Helped Cut Local Payments from 5 Hours to 5 Minutes

“No person in Myanmar, no consumer, would probably know who CNP is,” says Patrick Kershaw, the CEO of ConnectNPay (CNP), a fintech company that built the digital financial infrastructure now enabling locals to pay their utility bills and taxes online in Myanmar. “They have no idea, and they don’t need to,” he continues. Instead, says […]

Top Myanmar retailer to launch e-wallet with Thai technology

Win Win Tint, founder and managing director of CMHL, said in an exclusive interview that the firms recently signed a memorandum of understanding to form a joint venture. According to the pact, T2P will share its experience in developing both fintech and customer-loyalty programmes of the retailer by providing the technology to run its loyalty […]