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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 […]

QR code payment system set to launch this year

The Central Bank of Myanmar is set to implement a standardised national payment system by this year, says CBM Vice Governor U Bo Bo Nge. Daw Than Than Swe, director general of the CBM’s Financial Institutions Regulation Department, said to the Myanmar Times that the system will cover international payments, mobile wallets and all mobile […]

Singtel Dash e-payment system opens to Myanmar users

Myanmar nationals in the Republic will be able to send money home using mobile wallet Singtel Dash from March, under a new grant agreement signed on Tuesday (Jan 8). Singtel will work with banks, mobile wallets and cash pick-up services in Myanmar to set up safe and affordable ways for recipients to withdraw their money, […]

Ooredoo with M-Pitesan is going after Wave Money

Myanmar used to be the last telco frontier. Not anymore. Internet penetration has doubled in over 1 year and the country counts now more than 14 million online users. Myanmar is truly embracing the digital lifestyle. Main drivers of this growth, the mobile operators are fiercely fighting to gain market share. On the technology battlefield, […]

MyPay to launch mobile wallet in Myanmar

Customers of mobile financial services provider MyPay in Myanmar will soon be able to make payments using their mobile phone through a new service based on technology from mobile wallet provider Cellum. “Cellum Mobile Next, Cellum’s market-tested mobile commerce wallet, will be available under the MyPay brand,” Cellum says. “The innovative wallet offers the latest […]

Red Dot now in 3000 spots

Local payment services firm Red Dot has built up a network of more than 3000 retailers in Mandalay, Nay Pyi Taw and Yangon, chief marketing officer Andy Whelan said at a press conference yesterday. A customer waits at a shop in the Red Dot network. Photo: Naing Wynn Htoon / The Myanmar TimesA customer waits […]

Singapore’s ConnectNPay helping to stir up Myanmar’s financial sector

Since Myanmar opened up its economy in 2010, after one of the most brutal dictatorships in Asia, capitalism has been on the rise. The country’s abundant natural resources, strategic location between Asia’s powers India and China, and its largely untapped market of 60 million people have caught the interest of foreign investors. Singapore-based startup Leo […]

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 […]