Myanmar
Telenor Sells 51% Stake in Wave Money for US$ 53 Million
Telenor Group announced that it will be selling its 51% stake in digital payment solutions provider Digital Money Myanmar, also known as Wave Money, for US$ 53 million to Yoma MFS Holdings, a subsidiary of Yoma Strategic. This subsidiary is to
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Wave Money Doubled Its Transaction Volume Last Year at US$ 8.7 Billion
Wave Money, a Myanmar-based mobile financial services provider, recorded a total of 12 trillion Myanmar kyat (US$ 8.7 billion) in transactions last year as the country rapidly embraced digital financial services in the face of the COVID-19 pandemic. The firm
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Myanmar’s Wave Money Clocks More Than a Million Monthly Users for Its Wavepay App
Wave Money, a Myanmar-based mobile financial services provider, announced that its WavePay application has crossed 1.1 million monthly active users in October. With a remittance value reportedly reaching 8 Trillion Myanmar Kyat (US$ 5.9 billion) from January to September 2020,
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4 Fintechs in Myanmar to Watch
When it comes to fintech, Myanmar has a lot of catching up to do. With a little over a dozen companies compared to about 150 in Vietnam, and over 490 in Singapore, the Burmese fintech sector still trails far behind
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With 70% Unbanked Population, Myanmar Bets on Fintech to Improve Financial Inclusion
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,
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Singapore’s NETS to Assist Myanmar in Implementing Universal QR Payment
The NETS Group today announced that it has signed a Memorandum of Understanding (MOU) with Myanmar’s national payment network to establish a Payment Technology Exchange & Development Programme. The first project under the Programme will see NETS sharing its technical
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Sending Money Home to Myanmar Can Be Cheaper and Less Illegal with Blockchain
The central bank governors in both Thailand and Myanmar has just granted their blessing to the KTB Shewbank, a remittance project that uses blockchain to help reduce costs for Myanmarians in Thailand looking to send money back home to their
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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
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Myanmar Fintech Sector On Route To Growth: Fintech Startup Report and Map
While the Myanmar financial system remains largely dominated by banks, the non-bank and fintech sector is on route to growth and will likely be playing a key role in the country’s modernization push. Currently, only 5% of the Myanmar population
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Yoma Strategic and Grab Form Strategic Partnership in Myanmar’s Taxi Sector
Yoma and Grab jointly announce that they have signed a strategic framework agreement. The partnership will focus on upgrading the fleet of taxis in Myanmar, together with the provision of vehicle financing for Grab’s driver-partners. Myanmar’s ride-hailing industry has been
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