Myanmar operator MPT switched-on its mobile money service, a platform the company’s CEO hailed as an innovation which would improve access to financial services and aid efforts towards a cashless society.
The state-owned provider first announced it was developing the product in March 2018 and was cleared for launch by the country’s central bank in October 2019.
MPT Money goes to market with 25,000 agents across Myanmar, with plans to double this number in the “coming months”. The platform supports remittances, bill payment, top-ups and retail mobile payments in selected locations.
In a statement, MPT Money managing director U Khin Maung Myint said: “Mobile money solutions represent a significant innovation to improve the provision of financial services and develop a cashless society.”
“Our goal is to make digital money transfer services more accessible to everyone and everywhere, with a specific focus on secure and reliable mobile transactions. By connecting our customers to mobile wallets, we aim to drive better financial inclusion that will improve the economic and social well-being of millions of Myanmar citizens.”
There are several mobile money services already operating in the country provided by a range of companies. Rival mobile network operator Ooredoo launched its M-Pitesan service in 2017, while Telenor has a JV with Yoma Bank to provide services under the Wave Money brand.Subscribe to our daily newsletter Back