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KBZ Bank Forges Path to the Future with New Mobile Wallet Service
AUTHOR: EI THANDAR TUN
On June 26, KBZ Bank, a leading local lender, introduced a mobile wallet service. It allows users to withdraw money at any KBZ ATM machine across the country, without needing a card to do so.
KBZ Bank is the first among local lenders to introduce such a mobile wallet service. The service is a convenient way for users to withdraw money when they don’t have their wallet or bank card with them.
Mike DeNoma, Chief Executive Officer of KBZ, said: “We believe KBZPay has ever-expanding value in today’s world, that cardless no longer means cashless. We are continually developing new KBZPay features for customers, many of whom we believe will only carry their phone instead of a physical wallet in the near future.”
Currently, KBZPay has around two million users, and the mobile wallet allows users to save money in the mobile app, and to withdraw it when necessary.
KBZPay users can ‘top up’their phone, buy an internet package, transfer money, and pay bills using the service.
Anyone can open an account with a phone number by downloading the KBZPay app, either through the Google Play Store for Android users, or for the Apple App Store for iOS users. Then can also download it directly at: http://www.kbzpay.com
Ooredoo Prepared, Seeks Approval to Bring 5G to Myanmar
AUTHOR: EI THANDAR TUN Ooredoo Myanmar has announced that once it gets approval and licenses from the government, it will build and provide 5G services here. To do this, it announced a partnership with ZTE Corporation, as it signed a Memorandum of Understanding [MoU] to collaborate on 5G development in this country. The two companies will jointly test the new 5G network in some townships of Yangon
DAWN and Software Group Team Up to Accelerate Financial Inclusion in Myanmar
AUTHOR: EI THANDAR TUN Early Dawn Microfinance Company, Ltd. (DAWN) is partnering up with the global technology company Software Group to provide efficient and affordable financial services to Myanmar’s people. The institution will implement a Digital Field Application (DFA) solution to improve operations in the field, streamline operational workflows, and improve convenience for clients.
Yoma Bank to Provide Digital Small Business Loans to Shop Sellers
AUTHOR: EI THANDAR TUN Yoma Bank has just partnered with Shop (shop.com.mm) sellers via their latest unsecured small business loan product, SMART Credit Plus. SMART Credit Plus was unveiled earlier this year when Yoma Bank entered strategic partnerships with Wave Money and the Union of Myanmar Travel Association (UMTA), offering SMART Credit Plus loans to their agents and members.
MoneyGram Launches Money Transfer Send Service outside Myanmar
AUTHOR: TIN MG OO New service marks Increasing Financial Openness with first sending service from Myanmar by MoneyGram. MoneyGram and Myanmar Citizens Bank (MCB), are proud to announce an agreement to provide money transfer send services at every MCB bank location in Myanmar. Consumers will be able to send money from 42 branches to any MoneyGram location in more than 200 countries and territories worldwide.