Despite the Myanmar government’s push to expand access to financial services, the country still trails far behind the rest of Asia in rates of participation in formal financial services, financial literacy, savings rates and the use of digital financial services, according to a new report by social enterprise ONOW Myanmar. But fintech and mobile technology […]
With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion
November 25, 2019 by
Interbank cash transfers available with single ATM card next year
November 20, 2017 by
Money transfer services will be available through a single ATM card from next year onwards, U Mya Than, non-executive director and former chair of Myanmar Payment Union (MPU), told The Myanmar Times. With a single ATM card issued by any of the 23 local banks under the MPU network, users will be able to perform […]
TrueMoney finds a niche in Myanmar’s mobile fintech space
October 10, 2017 by
TrueMoney, one of the newest additions to the string of fintech firms vying for a slice of the mobile money market in Myanmar, is upping its game in the face of rising competition. Its strategy is to meet demand for a service to facilitate international mobile cash transfers by Myanmar residents. “We have a channel […]
Can mobile technology bring Myanmar in line with other Asean nations
May 12, 2016 by
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 […]
