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KBZPay to expand cashless service offering

KBZPay is expecting its users to rise by 42 percent to 5 million by the end of the year and for that number to expand sixfold to 30 million by 2028 with options to go cashless in various areas of the economy to come onstream, said U Soe Ko Ko, head of agent banking at […]

Myanmar consumers still lack wide awareness of cashless payment systems

Although more than 40 percent of Myanmar consumers expect to utilise cashless payment in the coming year, awareness of contactless and QR systems is still low, according to a recent study by Visa exploring Myanmar consumers’ perception, attitudes, and behaviours towards payment and new payment systems. The study surveyed 504 people across Yangon, Pathein, Mandalay […]

KBZ Bank sees rising adoption for its mobile wallet app

KBZ Bank, Myanmar’s largest privately-owned bank, facilitated one million transactions with its mobile wallet application KBZPay, signalling progress towards a mobile-first Myanmar, the bank said in a statement yesterday. From 28 to 31 March, guided by the 18,000-strong KBZ Bank team across the country, customers performed an extensive range of transactions with KBZPay. This included […]

Myanmar mobile wallet eyes 30m clients in 10 years

Driven by a population increasingly drawn to technology devices, Myanmar’s fastest- growing mobile wallet KBZPay has set an ambitious target of reaching 30 million customers in the next 10 years, according to Soe Ko Ko, general manager of KBZPay Agent Banking. The executive said in an interview with The Nation that more than 1.6 million […]

Digital landscape rapidly changing

Today’s smartphones can now show people what apps they use most frequently, how much time they spend on them and remind them to take a break. Moreover some mobile applications can have different settings for use by adults and children and limit applications and games by age, because many children use their parents’ phones. “Nowadays […]

KBZ Wins Financial Times Honor for Sixth Year Running

Myanmar’s largest private bank, Kanbawza (KBZ), was named Myanmar Bank of the Year for 2018 by The Banker, a service of the Financial Times, for its leading role in the country’s financial sector by using new digital technologies. It is the sixth consecutive year the bank has landed the honor, making it the only financial […]