Fin­tech firms part­ner to ex­pand reach in Myan­mar

The Myanmar Times - Weekend - - Business - HTET SHINE htet­[email protected]­

LO­CAL dig­i­tal pay­ments provider Ongo and mo­bile data op­er­a­tor Ananda yes­ter­day an­nounced a part­ner­ship to ex­pand the reach of their ser­vices in Myan­mar.

Un­der the agree­ment, Ananda users will have the added op­tion of top­ping up their ac­counts at Ongo agents across the coun­try as well as on its mo­bile ap­pli­ca­tion when they sign up for Ongo’s pay­ment ser­vices.

Mean­while, Ongo users who sub­scribe to Ananda’s 4G+ data ser­vice can also pay for the ser­vice on the Ongo app.

The part­ner­ship is a strate­gic move to en­cour­age the Myan­mar peo­ple to adopt a dig­i­tal life­style, build up the land­scape for fi­nan­cial tech­nol­ogy (fin­tech) and raise the level of fi­nan­cial in­clu­sion across the coun­try, said Allen Gil­strap, CEO of Ongo.

Ongo’s dig­i­tal pay­ment sys­tem aims to re­duce the cash han­dling bur­den for busi­nesses as well as func­tion as a dig­i­tal wal­let for in­di­vid­u­als. More re­cently, it in­tro­duced a mo­bile pay­roll to em­ploy­ers, negat­ing the need to process in­di­vid­ual cash salary pay­ments for em­ploy­ees.

Alan Sin­field, CEO of Ananda, said that with 80 per­cent of the Myan­mar pop­u­la­tion cur­rently us­ing mo­bile In­ter­net, now is the right time to ac­tively pro­mote fin­tech ap­pli­ca­tions and raise aware­ness of the ben­e­fits in­volved in us­ing them.

Ananda pro­vides 4G+ wire­less broad­band data-only ser­vices in Myan­mar. To ac­cess the ser­vice, cus­tomers are given a plug and play Mifi de­vice, which is a small wire­less router that func­tions as a mo­bile Wi-fi hotspot.

Ananda is also work­ing with other pay­ments providers to ex­tend its reach. Since Oc­to­ber 10, Ananda users were also given the op­tion to ex­tend their plans or top up their ac­counts via Wave Money.

Ananda was launched by Amara Com­mu­ni­ca­tions in Yan­gon in May and will in­tro­duce its ser­vices in Man­dalay soon.

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