Myanmar mobile money mmm has been a source of innovative solutions for mobile and financial service provider for republic of union of myanmar. With democratic reforms during the 2010s, the countrys future is uncertain. Produce a unified roadmap for financial inclusion in order to focus the efforts of various stakeholders. Yangon, 2 october 2019 wave money, myanmar s leading mobile financial service provider and metro wholesale myanmar, a leading food service distribution business, have announced a partnership to digitize the food supply chain in myanmar.
The partnership with metro is part of wave money s commitment to improve the digital ecosystem by. What makes myanmar mobile money unique is the ability to provide not only the basic mobile money services such as cash in, cash out, remittance. Oberthur technologies and myanmar mobile money to provide. Give me all your money or ill get you deported, he growled in. Wave money and metro partner for fast and secure digital. The gsma mobile money programme is working with mobile operators and industry. Mobile money pages 5263 myanmar s underbanked population and geographical features, coupled with rapid growth in mobile phones and internet penetration, have created a fertile ground for mobile money opportunities. The 20 survey represents 114 service providers from 57 countries, with 100 submitting information on mobile money, 18 on mobile insurance, and 12 on mobile credit and savings. Myanmar mobile money co, ltd is a company that is focussed on bringing basic financial service through its network of agent and partners. This is available in many countries and allows users to store, send, and receive money using their mobile phone. If it was only bankled, it would take a long time because the banks are so busy just getting their house in order, he told afp.
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. Myanmar s economy continues to show resilience despite the ongoing global slowdown and domestic uncertainties. These regulations shall be called the mobile financial services regulation. Consultations are being held on a proposed new country partnership framework to support myanmar s development priorities. Pdf mobile banking adoption among customers within private. Access to basic financial services in myanmar is extremely low. It was not left unan swered by mpt as it announced the partner ship with kddisumitomo corp. Mobile money regulations released the myanmar times. In september 2017, ooredoo myanmar joined forces with cb bank to roll out mpitesan, a mobile wallet that will offer nationwide money transfer and bill payment services. Women in myanmar are 29% less likely to own a mobile phone than men. At this point, they are on the right track, but there is. Supporting digital financial services in myanmar marketlinks. Digital money myanmar limited brand namewave money 28.
The potential of these technologies, both as a consumer. Presentation mobile money development in and beyond. Frontier technology partners mykyat service runs under a central bank licence given to first private bank, he said, which coowns the product. In myanmar, the large underbanked population and geographical features, created a fertile ground for mobile money opportunities. The full results from the survey will be published as part of mmu 20 state of the industry report on the 24th of february at mobile world congress.
The telecommunications industry has been abuzz lately with the launch of ooredoo and the sale of sim cards at record low prices. To date, six mobile money services initiatives have been piloted, launched. Mobile cellular subscriptions per 100 people international telecommunication union, world telecommunicationict development report and database. A snapshot of the mobile money ecosystem despite the challenging context, a number of stakeholders have already entered the myanmar mobile financial services market. Myanmar is in the final stage of selecting winners for its telecom licenses.
Financial inclusion can therefore help to ensure that rural households with migrants can receive more regular, safer remittances. Review of interoperability and regulations of mobile money. The company is headquartered in yangon myanmar and has partner network throughout whole of myanmar. Mobile money is myanmar s best bet at swiftly linking its poor to safer, more regulated financial services, said paul luchtenburg from the uns capital development fund in yangon. Mobile money services make waves in myanmar euromoney.
The regions definitive event on emerging markets mobile. Myanmar implemented various important reforms and liberalisation in the financial services sector since the new government took up office, making myanmar s financial system ready for the future. The safe and easy electronic payments make mobile money a popular alternative to bank accounts. Widespread smartphone and mobilemoney usage is coming to myanmar. Telenors wave money service is available in 265 townships with,800 wave money shops, while ooredoos mpitesan service is available in 55 cities with 3000 wave money shops. The qatari firm, which has its own 2,400strong network of mobile agents in five main cities including yangon, naypyidaw and mandalay, aims to increase that number to 10,000. Following a brief introduction to mobile money and interoperability, we present an overview of the status of mobile money in the 46 selected countries. The gsma mobile economy series provides the latest insights on the state of the mobile industry worldwide. The draft of mobile financial service regulations was completed recently with the support of japans bank of tokyomitsubishi ufj btmu, kddi and its local partner myanmar posts and telecommunication mpt, who are cooperating with btmu to provide mobile money services in myanmar. This gender gap in ownership was higher among lower income households. List of mobile financial services providers central bank. Wave money has brought financial inclusion to millions of burmese through the largest nationwide agent network of wave shops and wavepay app wavepay is our new customer app which aims to enable customers to discover more services and to help businesses serve customers better by enabling the. Qatars ooredoo, one of myanmar s three major mobile phone operators, is teaming up with myanmar s cooperative bank in a business called mpitesan. Money changers give readymade, rubberbanded stacks of a hundred k bills.
The index measures the amount of human capital that a child born today can expect to attain by age 18, given the risks of poor health and poor. Here is a peek into the financial inclusion landscape in south east asia. For telenor, ooredoo, and mytel, they have 11 digits with the prefix. Wave money simplifies the lives of people across myanmar. Ongos mobile money solutions are simple to use, easy to understand and convenient. Myanmar mobile market will grow to 5 million units in 5 years. Presentation mobile money development in and beyond uganda. Myanmar mobile money, which is powered by moremagic oberthur technology, was the first live mobile money platform in the country, launched at the beginning of 2014. Myanmar microfina nce in myanmar sector assessment abstract. The astounding buddhist architecture and deep jungles have only recently been within reach for most travellers. While most of the association of southeastern asian nation asean region adopts online and mobile banking, myanmar remains almost completely cash dependent, with most. Ooredoo myanmar fintech limited brand namempitesan 26. Meanwhile, rivals in the market also rely on banks, with 663 mobile money backed by myanmar citizens bank and myanmar mobile money affiliated with innwa bank.
Finally, the third section explores how a propoor fsp might begin to build a money transfers strategy, considering factors such as client preferences, regulation, competition, institutional capacity, financial analysis, and marketing. Myanmar skip credit cards, goes directly from cash to. The future is bright for mobile money and agent banking amdocs. Discover new mobile money opportunities and collaborations be updated on trends and developments. While mobile phone ownership is growing fast, women in myanmar are 29% less likely to own a mobile phone than men,4 according to the national baseline survey. Never hand over your money until youve received the kyat and counted them. Central bank of myanmar regulation on mobile financial. Report of a joint gsma connected womenlirne study on. Good places to buy maps online include international travel maps and books. Myanmar the human capital index hci database provides data at the country level for each of the components of the human capital index as well as for the overall index, disaggregated by gender. In both the prepaid instrument and payment bank scenarios, a mobile money retail agent who loads up a wallet, and helps carry out mobile money based transactions becomes crucial. Considering that k10,000 is the highest denomination, youll get a lot of notes. Country overview myanmar key indicators current banking and mobile money situation 3 mnos, 24 private banks, 4 stateowned banks population total 53 million estimate population with a mobile phone 33 million % of population with an account at a formal financial institution 20. The country plans to boost coverage to as much as 80 percent by 2016.
Sean turnell, economic adviser to the myanmar government section b. Accelerating financial inclusion in southeast asia with. Ongo offers a new and better way to handle your finances. Myanmar was incorrectly identified as a new market last year. The myanmar government has set highly ambitious targets for mobile subscriber penetration over the next two years. According to official figures released in mid2012, myanmar had 857 base transceiver stations bts for 1,654,667 local gsm mobile users, 188 btss for. Produced by our renowned inhouse research team, gsma intelligence, these reports contain a range of technology, socioeconomic and financial datasets, including. The financial sector of myanmar is made up of stateowned banks, private banks, finance companies and representative offices of foreign banks.
Over 10 mobile subscribers use wave mobile money service every day to pay for their online shopping, she told the myanmar times. Intermediaries, cash economies, and technological change in myanmar and india 8. Spicy sex video tube, 1 page myanmar sex video, 7 free myanmar tube sex video of 37, sex video clips, sex tube, porn tube, xxx tube. All three of myanmar s major telecommunications companies have applied for a license to offer mobile money services, but to date, the central bank has only approved one application, for wave. Intermediaries, cash economies, and technological change.
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