Myanmar News Updated
Highlight Myanmar News
CBM Allows WeChat Trial in Selected Areas
09/04/2019
AUTHOR: ZIN THU TUN
With the increased number of Chinese tourists coming to Myanmar, Central Bank of Myanmar is working to make payments easier for tourists in order to encourage more spending. To accomplish this, they have decided to allow the widely used WeChat Pay in selected areas for a three-month trial.
The online payment network, in which users can pay by scanning the QR code, was officially introduced by Paypb Company Limited and its partner QFPay on March 29.
“During the trial period, the service provider must submit a daily report and a weekly report to Central Bank. Central Bank, after considering the reports, will decide if they will allow the service to extend to other areas,’’ Daw Myint Myint Kyi, Director General of Account Department under Central Bank of Myanmar, said.
WeChat Pay is now available at twelve places including TadarOo Airport in Mandalay and various restaurants, cafés and hotels in Yangon. The cardless payment system, like other conventional cards such as credit and debit cards allow users to pay fees by scanning a QR code.
“It is secure and safe for tourists to pay charges while visiting Myanmar. We want to boost foreign currency inflow into the country by offering safer and more secure methods of payment,” U Sithu Phyo, Managing Director of Paypb Company Limited, said.
WeChat Pay has partnered with KBZ bank, one of the leading local banks, by opening an account with them, and they plan to partner with Thailand’s PromptPay and Singapores NETSPay as well as other local mobile payment providers so that users can use the payment system while overseas.
The company registered WeChat Pay at Central Bank in February 2019 and it was approved on March 26 by Central Bank.
Related News
-
Telecom Operators Allowed to Sell Only 2 SIM Cards Per ID Card
AUTHOR: SWE LEI MON Telecom operators are not allowed to sell more than two SIM cards to an individual starting from April 1. The purpose of the change is to protect the privacy of users, according to the Department of Post and Telecommunications under Ministry of Transport and Communications. The Ministry has ordered all operators not to sell more than two SIM cards per identity card, and the Ministry will ban all other sim cards from that telecom from being registered under a single ID card. The reason is twofold.
Read More02/04/2019 -
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.
Read More02/04/2019 -
Online Tax Payments Now Available
AUTHOR: SWE LEI MON With the goal of making tax payments easier for taxpayers and encouraging people to pay taxes, the government has been implementing the online payment system since 2014, Daw Khine Shwe War, the Deputy Director General of the Central Bank of Myanmar, once said in a meeting at the Ministry of Commerce.
Read More04/03/2019 -
Yangon Bus App to Launch Within Three Months
Asia Starmar Transport Intelligent Co., Ltd is developing a mobile application called Yangon Bus, which will provide information of the entire bus system such as the location of a bus in real time, and expects to launch the new app in about three months.
Read More13/02/2019