Ooredoo launched mobile money service M-Pitesan in Myanmar, a development the company said would help support increased financial inclusion in the country.
M-Pitesan offers benefits synonymous with mobile money services deployed across other developing markets. It includes the ability to send money to individuals and pay bills – including phone top-up. Consumers can also make withdrawals from their accounts at any registered agent.
“Ooredoo supports financial inclusion for everyone and M-Pitesan aims to do just that,” Ooredoo Myanmar acting CEO Vikram Sinha said.
“This market is ready for the next evolution in mobile money and I am confident that M-Pitesan will take the financial services industry to the next level as we offer the service capability to all customers, banks and businesses alike.”
Ooredoo is the third largest mobile operator by connections in Myanmar with an estimated 8 million customers, according to GSMA Intelligence estimates, behind Telenor and incumbent communications provider MPT.
Mobile money services are already available in the country from a number of brands including Telenor-backed Wave Money – launched in November 2016 – and several bank-affiliated applications.
MPT was widely tipped to be preparing a similar service earlier this year, but a formal announcement on its availability is yet to be made.