fbpx

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 […]

Myanmar Shoppers Spend $90,000 in 1 Hour During Alibaba’s ‘11.11’ Online Sale

The local unit of Chinese e-commerce giant Alibaba Group sold over $90,000 worth of goods in the first hour of its first-ever online sale aimed at Myanmar shoppers on Sunday. The local version of Alibaba’s global “11.11” online sale was conducted by Myanmar’s biggest online shopping platform, SHOP.com.mm. SHOP said in a statement that over […]

This company is on a mission to make Myanmar more economically inclusive

Going from 1 per cent of internet access six years ago to what Myanmar is today (Ericsson’s 2015 reports stated that the country has the fourth fastest growing smartphone ownership), Myanmar has kept a pace and managed to be home to many emerging startups that have yet to find the spotlight. Since it opened doors […]

Ooredoo mulls 5G for Myanmar

Ooredoo is preparing significant investment to bring 5G mobile networks to Myanmar, according to the company’s chief executive officer, Vikram Sinha. Ooredoo is celebrating 4 years in Myanmar and has recently completed further testing of its 4G Pro network upgrade project – a move which the company says demonstrates its readiness to bring next generation […]

Myanmar’s First Private Bank to modernise banking operations with Misys

First Private Bank (FPB) has chosen Misys FusionBanking to streamline operations and digitalise as it takes a significant role in contributing to Myanmar’s growing economy. The bank, which received the first banking licence in Myanmar in 1992, aims to facilitate access to financial services for all and will transform its retail, corporate and digital offering […]

Mobile money regulations released

The Central Bank of Myanmar has released regulations on mobile financial services, widening a market previously limited to banks to include non-banking financial institutions. The Central Bank announced yesterday that it had issued rules on mobile financial services at the end of last month to build an enabling regulatory framework for efficient and secure mobile financial services […]

Yoma Bank, Telenor to Invest in Mobile Payments Joint Venture

Yoma Bank and Telenor are set to invest more than $8 million each over the next year in their new mobile payments joint venture, according to a company filing. Mobile money is expected to be a growth sector as the expansion of access to mobile phone and internet services coincides with efforts to give more […]

Telecom Tax Delayed Until New Gov’t

Finance minister U Win Shein has presented to a union parliamentary meeting a plan to collect commercial tax on every mobile phone top-up credit starting from April 1 when the new government starts their term. The commercial tax on mobile phone users was planned to start in the current government’s term but members of the […]

PTD invites Potential Supplier for Presentation of its Solution; Closing Date: Nov 27, 2015

Subscribe to our tender alert mailing list Post and Telecommunications Department (PTD) under The Ministry of Communications and Information Technology (MCIT) of Myanmar is releasing a public tender in the near future for the procurement of fixed, mobile and portable spectrum monitoring systems. PTD is looking to meet with potential suppliers to receive information on […]

Singapore Firm Acquires Stake in Myanmar Payment Company

Singapore-based payments firm fastacash has made a strategic investment in Myanmar-focused payments company, MyPAY. MyPAY, which is developing a mobile payment system, also has a strategic partnership with local social network MySQUAR, which claims to have 1.5 million user accounts. However, a fastach spokesperson told Myanmar Business Today that the firm “won’t be able to […]