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. […]

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 […]

The Companies Working To Serve Myanmar’s Unbanked Citizens

As fintech startups gain prominence across Southeast Asia, Yangon is poised to become a hub for the budding industry. At least, that’s how Red Dot Myanmar founder John Nagle sees it. The Irish entrepreneur arrived in Myanmar four years ago, drawn by the many opportunities in the country’s financial space. Myanmar’s economy opened to foreign […]