\tMyanmar operator MPT switched-on its mobile money service, a platform the company\u2019s CEO hailed as an innovation which would improve access to financial services and aid efforts towards a cashless society.<\/p>\n
The state-owned provider first announced it was developing the product in March 2018 and was cleared for launch by the country\u2019s central bank in October 2019 [1].<\/p>\n
MPT Money goes to market with 25,000 agents across Myanmar, with plans to double this number in the \u201ccoming months\u201d. The platform supports remittances, bill payment, top-ups and retail mobile payments in selected locations.<\/p>\n
In a statement, MPT Money managing director U Khin Maung Myint said: \u201cMobile money solutions represent a significant innovation to improve the provision of financial services and develop a cashless society.”<\/p>\n
\u201cOur 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.\u201d<\/p>\n
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.<\/p>\n[1] https:\/\/www.mobileworldlive.commobileworldlive.com\/money\/news-money\/mpt-receives-licence-to-launch-payment-service\/<\/p>\n","protected":false},"excerpt":{"rendered":"
Myanmar operator MPT switched-on its mobile money service, a platform the company’s CEO hailed as …<\/p>\n
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