Telenor Myanmar launched mobile money service through Wave Money in 2016, while Ooredoo Myanmar launched its mobile money services through M-Pitesan in September.

These digital money transfer services do not require bank accounts to move cash from senders to receivers.

“Over 1000 mobile subscribers use Oreedoo’s M-Pitesan service to transfer and pay the phone bill daily,” said Jacques Voogt, M-Commerce officer from Ooredoo Myanmar.

Daw Phyu Phyu Tun, employee of King Mobile shop, a Wave Money service shop from Kyauktada township, said subscribers also use mobile money service for online shopping.

‘’Over 10 mobile subscribers use Wave mobile money service every day to pay for their online shopping,” she told The Myanmar Times.

Telenor’s  Wave Money service is available in 265 townships with 13,800 Wave Money shops, while Ooredoo’s M-Pitesan service is available in 55 cities with 3000 Wave Money shops.

Telecommunication operators hope to expand their mobile money services to the whole country next year.

“We aim to provide Wave Money service for the whole country through 25,000 Wave Money shop by the end of 2018,” said Brad Jones, CEO of Wave Money.

Ooredoo was also set to upgrade M-Pitesan service qualities and increase distributors next year, according to Jacques Voogt.

A majority of Ooredoo subscribers use M-Pitesan money service mainly to pay for phone bills, says U Win Thu owner of Kyauk Maung mobile shop in Yangon.

“If Ooredoo subscribers pay their phone bills by M-Pitesan, the company gives a bonus to the payers. So Ooredoo customers pay their phone bills through M-Pitesan,” said U Win Thu.

The popularity of money transfer services can also be attributed to unstable internet connection that renders bank’s ATMs inaccessible.

“Sometimes, ATM machines go offline. But Wave Money transfer is convenient to work, especially when withdrawing money,” said Daw Khin Myo Zin, Wave Money user from Botahtaung township.

State-owned operator MPT was also planning to use mobile money service through Myanmar Connect.

Telenor provides Wave Money service in cooperation with YoMa bank, while Ooredoo Myanmar provides M-Pitesan service in cooperation with CB Bank.

Source: https://www.mmtimes.com/news/mobile-money-services-gaining-popularity-across-myanmar.html