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Cash’s Crown Starts to Slip in the Business-to-Business Sector

Every day, the 25-year-old collects bricks of notes – equivalent to many times his K300,000-a-month salary – from businesses in northern Yangon’s Insein Township. After counting the notes, Kyaw Zaya adds the balance to the mobile banking account of each business and deposits the cash with an agent for Yangon-based fintech company Ongo. Kyaw Zaya […]

How Oway plans to win Myanmar as the country strives to build a digital ecosystem

With its online travel agency, ride-hailing services, and corporate fleet services, Oway is one of the leading names in local tech ecosystem Looking at the services that Oway is offering, it is hard not to compare the Myanmar-based startup with its regional competitors Grab and gojek. Starting off an as online travel agency, which was […]

WaveMoney, Yoma Bank collaborate to extend collateral-free loans

Wave Money has officially announced a collaboration with Yoma Bank Ltd to boost the development of micro, small and medium enterprises (MSMEs) in Myanmar. Through the collaboration, Yoma Bank provides unsecured, instant credit to Wave Money agents to help these agents operate their businesses more productively. Wave Money is a joint venture between telecommunications company […]

How does yoma strategic holdings ltd make money?

<ahref=”https://youtu.be/pCvYiQYDHcE” target=”_blank”> Yoma Strategic Holdings Ltd (SGX: Z59) is a leading conglomerate in Myanmar with businesses in various sectors ranging from consumer to financial services. Serge Pun founded the group in 1962. As Yoma is a conglomerate with diverse business interests, the best way to find out how it makes money is to look into […]

Wave Money focuses on 4G finance opportunities

Wave Money CEO Brad Jones (pictured) explained 5G will be a long-term play for the mobile financial sector, tipping the technology to open new services which enhance core mobile money services rather than radically alter their make-up. The company, a joint venture between Telenor and Yoma Bank operating in Myanmar, isn’t looking at 5G “that […]

Wave Money expands network, commissions, and volume

Wave Money, Myanmar’s mobile financial services provider, moved US$1.7 billion in remittance for the first six months of 2019, the company said in a statement. From January to June, the company paid K22 billion ($15 million) in agent commission, which is triple the amount compared to the same period last year ($4 million) and added […]

Myanmar’s digital money transfers set to triple in 2019

<ahref=”https://youtu.be/pCvYiQYDHcE” target=”_blank”> YANGON — Digital money transfer services in Myanmar by mobile phone operators and banks have all but replaced traditional remittances in only a few years. CEO Brad Jones of Digital Money Myanmar — operator of the country’s leading remittance provider Wave Money — says transactions via the service exceeded 2 trillion kyat ($1.3 […]

Is Myanmar ready for cryptocurrency?

The recent coverage of Chinese blockchain company Shellpay Internet Technology Co’s plan to issue digital coins in eastern Shan has sparked widespread social media attention on the cryptocurrency industry. Cryptocurrencies are digital currencies that has no physical form. Unlike cash, they have decentralised control and does not require a central bank or federal reserve. Blockchain […]

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 […]

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 […]