The Mondato Award for Mobile Finance and Commerce (MFC) Innovation in Emerging Asia will be awarded to the MFC provider whose product or service exhibited the most innovation in their given market in Emerging Asia during 2015-2016.
Optimism is abundant as Myanmar’s virtual and physical connectivity burgeons, especially for trailblazer MYPAY. The mobile app will be the first Social Media Payment service provider in Myanmar come August, when it plans to roll-out. “We don’t want to do the same thing. We want to do something different. Something new. That is, we will use the social media area for payments. Sending money should be as easy as sending a message on Facebook, Viber, or Watsapp,” Tim Scheffmann, CEO of MYPAY, told Mizzima Weekly.
Following Thailand and Indonesia, leading multinational mobile wallet provider Cellum is now expanding its presence in Asia to Myanmar, the company said in a press release on 23 May. MYPAY, a mobile financial service provider in Myanmar, will use Cellum’s innovative m-commerce wallet to provide financial services to Myanmar’s population. With a largely unbanked population of 51 million and an 80% smartphone penetration the companies tap into a huge leapfrog opportunity in Myanmar, according to the press release. Cellum has been present in Asia since 2014 and the company just marked a milestone of 100 million successful transactions.