MYANMAR
FINTECH
STARTUP
REPORT
ROYCE NG
POWERED BY FINTECHNEWS.SG
"AFTER DECADES OF
ISOLATION, THE
SOUTHEAST ASIAN NATION
OF MYANMAR IS ROARING
AHEAD WITH THE FASTING
GROWING ECONOMY IN
ASIA IN 2016"
ACCORDING TO THE ASIAN DEVELOPMENT BANK’S
ASIAN DEVELOPMENT OUTLOOK 2016.
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INTRODUCTION
A QUICK
OVERVIEW
Snapshot of Myanmar
Time Line
Startups
FINTECHNEWS.SG | FACEBOOK/FINTECHMYANMAR/ | TWITTER/FINTECHMYANMAR
SNAPSHOT OF MYANMAR
Population 53.4 Million Card Penetration: 2%
Internet Banked
Penetration Population
28% 5%
Mobile
Penetration
95%
DIGITAL IN ASIA-PACIFIC IN 2017 REPORT BY KEPIOS, HOOTSUITE & WE ARE SOCIAL
SNAPSHOT OF MYANMAR GDP GROWTH
SOURCE: ASIAN DEVELOPMENT BANK (ASIAN DEVELOPMENT OUTLOOK 2017 UPDATE)
NOTE: GDP GROWTH RATE FORECASTS FOR 2017 AND 2018.
DEVELOPMENT OF FINTECH IN MYANMAR
Myanmar mobile
FPT Myanmar signs
payments firm MyPay
10-year agreement
Ltd acquired
with Myanmar
Singapore’s
9 licenses awarded to Payment Union to
Fastacash, a social
foreign bank, including improve nation-wide
and mobile payment
OCBC and UOB payment services
platform
to remit money..
2013 March 2016 November 2016
2011
End of Oct 2014 October 2016 March 2017
Junta Rule
TrueMoney, a
Thailand-based online
Central bank of payment
4 more licenses
Myanmar (CBM) company launched
awarded to foreign
become indendent remittance service
banks
body. Wave
Government issues 2 Money becomes
CBM issues
telecommunications company to receive a
Regulation on Mobile
license to foreign license under new
Financial Services
operators regulations.
PWC MYANMAR BUSINESS GUIDE: FIFTH EDITION OCTOBER 2017
NUMBER OF FINTECH STARTUPS IN SOUTHEAST ASIA
250
200
150
100
50
0V M
ie C M In S
t y d a P i
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m b m e s ip a
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d r i in o
ia a e re
s
FINTECHNEWS.SG COUNTRY FINTECH STARTUP REPORTS
FINTECH MYANMAR STARTUP MAP
Mobile Wallets Payments
FINTECHNEWS.SG | FACEBOOK/FINTECHMYANMAR/ | TWITTER/FINTECHMYANMAR
FINTECH STARTUPS - MOBILE WALLETS
WAVE MONEY
Wave Money is an
innovative way to transfer
2015 money anywhere anytime,
safely through your mobile
phone or from one of your
neighborhood Wave Shop
agents.
WAVEMONEY.MM | FACEBOOK/WAVEMONEY | TWITTER/WAVEMONEY_MM
FINTECH STARTUPS - MOBILE WALLETS
TRUEMONEY
MYANMAR TrueMoney Myanmar
provides the new payment
2014 solution with multiple
services tailored to the
needs for the community.
The products of TrueMoney
Myanmar are remittance,
top-up and bill payment.
TRUEMONEY.MM | FACEBOOK/TRUEMONEYMYANMAR
FINTECH STARTUPS - MOBILE WALLETS
M-PITESAN
M-Pitesan is Ooredoo’s
Mobile Money Service which
2017 is the easy and safe way to
transfer and receive money,
buy airtime or make
payments using your mobile
phone instantly, anywhere,
anytime.
OOREDOO.MM/EN/PERSONAL/SERVICES/M-PITESAN.ASPX |
FACEBOOK/OOREDOOMYANMAR
FINTECH STARTUPS - MOBILE WALLETS
OK$
OK$ is mobile payment
system which claims to be
2017 fast, secure and safe. It
allows users to recharge
mobiles & DTH, buy movie
tickets, share bills, share rent
with friend, buy flowers,
order pizza, shop online and
etc.
OKDOLLAR | FACEBOOK/OKDOLLARAPP/
FINTECH STARTUPS - MOBILE WALLETS
663 MOBILE MONEY
663 Mobile Money allows
you to make
2017 transfers/payments using
your mobile phone. Users
can securely pay for your
prepaid mobile phone
connection, post-paid mobile
bills, flight tickets, insurance
premiums, movie tickets,
utility bill payments &
transact on e-commerce
websites, all without sharing
personal financial
information with anyone.
663MOBILEMONEY | FACEBOOK/663MOBILEMONEY/
FINTECH STARTUPS - MOBILE WALLETS
ONGO
Ongo is a digital payment
service which is fast, safe
2017 and a convenient way to pay
and receive money. You can
easily manage your account
with the Ongo mobile App.
ONGO.MM | FACEBOOK/ONGOMOBILEMONEY/
FINTECH STARTUPS - MOBILE WALLETS
PAYHERE
PayHere is a digital
convenience store which
2017 provides Providing
eCommerce Payment, Teleco
Topup Cards (MPT, Telenor,
Ooredoo and MEC), Others
Topup (easyPoints, Google
Play, iTunes, ..), Electricity
Bills and 4TV monthly bills
payment
PAYHERE.MM | FACEBOOK/PAYHERE4ALL/
FINTECH STARTUPS - MOBILE WALLETS
EASYPAY
EasyPay is a mobie payment
solution with services such
2017 as paying bills, B2B
payments and adding phone
top-ups.
MYANMARMOBILEMONEY-EASYPAY | FACEBOOK/MYANMARMOBILEMONEY/
FINTECH STARTUPS - MOBILE WALLETS
PAYHERE
1-STOP is providing 'Digital
Convenience Store' platform
2017 which empowers to the
retails connected between
urban and rural coverage in
Myanmar.
1STOP.MM/ | FACEBOOK/NEARME1STOP/
FINTECH STARTUPS - MOBILE WALLETS
MYKYAT
MyKyat allows you to send
money to anyone just using
2015 your mobile phone.
MYKYAT/ | FACEBOOK/MYKYAT.MYANMAR
FINTECH STARTUPS - MOBILE WALLETS
MYPAY
MYPAY provides Social
Media payments and helps
2015 you to pay via your
smartphone. Money can be
sent and received from
friends and family.
MYPAY.MM | FACEBOOK/MYPAYMYANMAR
FINTECH STARTUPS - MOBILE PAYMENTS
RED DOT
Red dot is a revolutionary
new payments company that
2013 is rapidly building a network
in Myanmar.
REDDOTNETWORK/ | FACEBOOK/REDDOTNETWORKMYANMAROFFICIALPAGE
FINTECH STARTUPS - PAYMENTS
MYANPAY
MyanPay is an easy, fast,
and secure E-commerce
2012 system. Their services
include fraud prevention and
risk management for your
online Business & E-
commerce.
MYANPAY.MM/ | FACEBOOK/MYANPAY
FINTECH STARTUPS - PAYMENTS
EASYBILLS
easyBills is an electronic bill
payment solutions in
2015 Myanmar.
EASYBILLS.MM/ | FACEBOOK/EASYBILLSMYANMAR
FINTECH STARTUPS - PAYMENTS
CONNECTNPAY
CNP seeks to maximise the
total addressable market
2015 available for all financial
institutions and start-ups in
Myanmar hrough building
network interoperability.
CONNECTNPAY/ |
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