A BOOM in mobile financial services (MFS) is anticipated, thanks to the rapid increase in penetration rate and poor infrastructure in Myanmar, according to Takashi Shigeno, director of KDDI Summit Global Corporation.
He cited three main reasons for this.
"Firstly, more than 70 per cent of the population live in rural areas. Secondly, only 20-25 per cent of adults have bank accounts. Thirdly, Myanmar has a lot of infrastructure deficiencies. There are a lot of difficulties to access banking facilities and power shortages," Shigeno said at the Mobile Money & E-Commerce Summit 2016 last week.
The draft of mobile financial service regulations was completed recently with the support of Japan's Bank of Tokyo-Mitsubishi UFJ (BTMU), KDDI and its local partner Myanmar Posts and Telecommunication (MPT), who are cooperating with BTMU to provide mobile money services in Myanmar.
According to Shigeno, many products will soon be available and the market is likely to evolve quickly. (Courtesy of The Nation)
No comments:
Post a Comment