Mobile wallets boom as pandemic burns on
The second wave of COVID-19 shows no signs of slowing, and continues to deal blow after blow to the economy. This week, KBZ Bank announced that it would temporarily close 51 of its Yangon branches, leaving only 92 open as the city remains under tight
Mastercard makes moves in Myanmar
Mastercard announced this week that it would open an office in Myanmar, one in a series of steps towards the modernization and digital leapfrogging of the Myanmar economy. “Mastercard aims to support the advancement of Myanmar’s digital payme
Yoma to buy majority share of Wave Money
Yoma Strategic Holdings will purchase a controlling share of Digital Payment Myanmar, operator of e-wallet platform Wave Money. Yoma will buy the stake currently held by Norwegian telecom Telenor for USD 76.5 million. After some financial reshuffling
Alibaba fintech arm invests USD 73.5 mn in Wave Money
Ant Financial (owner of Alipay) will invest USD 73.5 million into digital payment platform Wave Money. With the investment, the Alibaba affiliate will join Yoma Bank and Telenor as the primary stakeholders of one of Myanmar’s largest fintech se
Four ways Myanmar can boost online shopping
Even the United Nations says Myanmar is dismal for online shopping. The country ranked 126th in the The United Nations Conference on Trade and Development’s (UNCTAD) “Business-to-Consumer (B2C) E-commerce Index.” measuring an economy’s pr
