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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 […]

Myanmar-based Irish company Red Dot halts operations

Red Dot, businessman John Nagle’s Myanmar-based electronic payments company, halted operations in recent weeks, according to local reports. Mr Nagle established Red Dot Network, which allows customers to buy mobile phone credit and pay bills, after emerging from bankruptcy in 2014, with backing from Denis O’Brien’s Digicel, which sold the business to him last year. […]

Red Dot closure concerns spread to industry, draws light on licensing procedures

Disenfranchised agents of the now defunct Red Dot Network Ltd plan to file a court case against the payment-solutions provider after being turned down by the Consumer Protection Central Committee, which said their case could not be handled under the Consumer Protection Law. The agents are unhappy that deposits paid to Red Dot will likely […]

Concerns mount in the wake of Red Dot shutdown

Agents of Red Dot Network Ltd are unhappy that deposits paid to the now defunct payment solutions provider will likely not be returned to them. Red Dot’s system involves small terminals and trading balances. The firm buys credit from Myanmar’s telcos – Ooredoo, Telenor, MecTel and MPT – the same as that which shop owners […]

Can mobile banking overcome Myanmar’s trust issues?

It is 5pm on a Wednesday and Yangon’s streets are at a near standstill. Sunset comes early to this city of 7.36 million. Thankfully, since it is winter, the weather is cooler and drier than the rest of the year. So as dusk descends over some of the unruliest traffic in Asia – there are […]

Financial Services Key to Rapid Myanmar Growth

The rapid economic growth in Myanmar has the potential to create more new jobs in financial services than any other country in Southeast Asia (SEA), according to Red Dot, the Yangon-based cash acceptance network. “Financial services are central to all key sectors in Myanmar – agriculture and food, manufacturing construction, hotels and leisure, tourism, healthcare […]

Ooredoo’s M-Pitesan launches in next development in popular mobile money industry

  by Ben Roache M-Pitesan, Ooredoo’s entry into the increasingly competitive online mobile money industry, has launched this week. Allowing users to send money to friends and family, as well as purchasing airtime, Ooredoo hopes to change the lives of the people of Myanmar with their new innovative wallet solution. M-Pitesan’s Mobile money app works […]

Central Bank of Myanmar delivers green light for mobile wallet OK Dollar

by Ben Roache OK$, a mobile payment service that has recently been heavily advertised throughout Yangon, has been granted a Mobile Financial Services (MFS) licence by the Central Bank of Myanmar. This overcomes a major hurdle between OK$ and next generation retail payment, remittance and funds transfer services in the country. Fig 1 – Screenshot […]

In Myanmar, an online platform is giving fledging comic book artists a chance to shine

White Merak Comics Studio offers comics published in English and Burmese — optimised for the Myanmar market Since I was a child, I ‘ve always enjoyed reading comic books. But in those days, 3.5 inch floppy disks were the only means of transferring files between computers (as a mainstream consumer, anyway), so there was no […]

Video-On-Demand Service Iflix Teams Up With Local Firm Red Dot

Kuala Lumpur based video-on-demand service, iflix, is now available in Myanmar on month and year long con­tracts, after the company launched in partnership with local payment com­pany Red Dot. After wooing custom­ers with free one month long trials, iflix is now offering the full array of its services starting from K3,000 per month and up […]