December 21, 2015:
Myanmar based mobile operator Telenor, will be launching its mobile money transfer service Wave Money, as a subsidiary- in partnership with Yoma Bank.
Telenor, has a 51 per cent stake in the new venture while 49 per cent is held by Yoma bank,
Having gone thorough about five weeks of commercial testing in upper Myanmar, Wave Money will be released for the mass market, the un-banked and those with limited access to the bank. It is expected to be released officially as soon as the Central Bank issues regulations regarded the mobile financial services.
Brad Jones, chief executive officer of Wave Money told DEALSTREETASIA that the money transfer will be the first step and the service will include a suite of other services related to mobile financial transactions.
“We want to begin with the transfer of money and wanted to go with a very focused product and a very simple product. The initial service will be money transfer but we do see the potential future services including the airtime top-ups, bill payments, international remittance, salary disbursements,” said Jones. (Courtesy of Deal Street Asia)
No comments:
Post a Comment