MySquar suspends mobile money unit, delists shares

Troubled Myanmar app company MySquar temporarily closed its mobile money operation and social media app MyMingalarbar, in addition to making multiple redundancies, as its cash position hit critical levels. In a statement the company said cuts were an attempt to conserve remaining funds, adding senior staff had not been paid for two-to-three months. Its shares […]

GrabPay Mobile Wallet Will Likely Hit Myanmar in 2019

After Grab’s launch into Myanmar in 2017, the ride-hailing giant intends to follow-up with the expansion of their e-wallet GrabPay, in the ride-hailing giant’s ongoing Southeast Asia takeover strategy. GrabPay is considering Myanmar alongside Cambodia for expansion of its mobile payments service, along with a potential expansion of its range of business throughout ASEAN countries, […]

Mysquare : AIM-listed MySQUAR acquires MyPAY Myanmar, raises $2.9m to fund deal

AIM-listed MySQUAR Ltd, a Myanmar-language social media, entertainment and payment platform, has announced the acquisition of mobile payment operator MyPAY Myanmar Ltd, for a consideration of 2 million ($2.6 million), according to its filing on the London Stock Exchange. MySQUAR simultaneously also announced raising 2.2 million ($2.9 million) through a convertible bond issue offering to […]

MyPay to launch mobile wallet in Myanmar

Customers of mobile financial services provider MyPay in Myanmar will soon be able to make payments using their mobile phone through a new service based on technology from mobile wallet provider Cellum. “Cellum Mobile Next, Cellum’s market-tested mobile commerce wallet, will be available under the MyPay brand,” Cellum says. “The innovative wallet offers the latest […]

Singapore Firm Acquires Stake in Myanmar Payment Company

Singapore-based payments firm fastacash has made a strategic investment in Myanmar-focused payments company, MyPAY. MyPAY, which is developing a mobile payment system, also has a strategic partnership with local social network MySQUAR, which claims to have 1.5 million user accounts. However, a fastach spokesperson told Myanmar Business Today that the firm “won’t be able to […]