Myanmar E-Commerce Leader Pushes for Expansion

THOUGH a large percentage of Myanmar’s 53-million population still prefer going out to shop, more than half a million people visit Shop.com.mm, the nation’s leading e-commerce platform, for online shopping on a monthly basis, said its chief. Sumit Jasoria, managing director of Shop.com.mm, said in an exclusive interview that the firm was seeing some good […]

Myanmar Is Next Vietnam With 10% Growth: British Diplomat

Myanmar could be the next Vietnam or Thailand, with the economy having the potential of growing as much as 10 percent, a senior British diplomat said. The Southeast Asian nation, which is opening its economy to investors after decades of military rule, has to overcome challenges including a shortage of power supply, lack of policy […]

Cash Is Our Biggest Competitor, Says Wave Money CEO

​​ Cash is the “biggest competitor” for mobile transaction venture Wave Money as it seeks to overcome My­anmar’s aversion to non-physical money, CEO Brad Jones has said. The entire industry will benefit from increased consumer awareness when new entrants begin offering alternatives to Wave Money, he added. Qatar-based telco op­erator Ooredoo is looking to launch […]

Wave Money Set for Ambitious Growth in Myanmar

WAVE MONEY, the first company to be awarded a licence under Myanmar’s mobile financial services regulations, is planning for ambitious growth in the country, according to Vibeke Siljan Krohn, the firm’s head of sales, marketing and distribution. Krohn said the company was focused on the mass market with the goal of providing mobile financial services […]

CBM likely to pave way for new mobile money services

The Central Bank of Myanmar will allow money services on mobile devices, according to Director- General Daw Than Than Swe of the CBM. “We are trying to implement effective financial services for the public” said Daw Than Than Swe. “The services aim to provide convenient services for people in rural areas who do not have […]

4 ways to boost e-commerce in Myanmar

e-Commerce industry growth will need banks and telcos to reduce service fees, provide better APIs, and simplify procedures to eliminate the hassle of payments Since 2012, foreign investors have been on a gold rush in Myanmar. GDP has climbed up steadily from US$58.68 billion in 2013, to US$64.33 billion in 2014, then US$64.87 billion in 2015. In July 2016, the new […]

Pocket change: Myanmar banks on mobile money

YANGON – Carrying her wages in wads of cash across Myanmar was once a risky, onerous but unavoidable ritual for maid Khin Myint Oo. But now she just pings off a text to move the money to her children back home as mobile banking sweeps into a country whose people have for decades been locked […]

Can mobile technology bring Myanmar in line with other Asean nations

Myanmar’s central bank has released additional rules on mobile financial services that lay the foundation for efficient and secure mobile financial services in Myanmar. While most of the Association of Southeastern Asian Nation (Asean) region adopts online and mobile banking, Myanmar remains almost completely cash dependent, with most salaries still paid in cash. According to […]

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 […]