Category: Press Release

Yangon, Hangzhou, 18 May, 2020 – Digital Money Myanmar Limited (“Wave Money”) and Ant Financial Services Group (“Ant Group”), operator of Alipay, today announced a strategic partnership to promote financial inclusion for the unbanked and underbanked communities in Myanmar. Ant Group’s expertise in mobile payment and digital financial services will help boost Wave Money’s technological capabilities to provide greater convenience and security in mobile financial services across Myanmar.

Wave Money, the leading mobile financial service (MFS) in Myanmar today announced its partnership with global payments platform 2C2P to deliver seamless and convenient online payment services for WavePay users nationwide. The two parties signed the Memorandum of Understanding (MoU) at the Sule Shangri-La Hotel in Yangon.

Wave Money, the leading mobile financial service (MFS) provider in Myanmar, ended 2019 on a high note with an annual remittance value 6.4 Trillion MMK. The amount is three times higher than the 2 Trillion MMK transacted in 2018.

The leading mobile financial service company in Myanmar, Wave Money has tied up with FlyMya.com, a leading platform for booking domestic airline tickets, tour packages and hotel rooms, to enable easy and secure travel payments. The Memorandum of Understanding signing ceremony between the two parties was held on 28 November 2019 at the Sule Shangri-La hotel in Yangon.

Wave Money, the leading mobile financial services company in Myanmar, is at the forefront of market education on digital payment interoperability as a critical driver of financial inclusion. Wave Money presents insights from a paper entitled “Digital Financial Services Interoperability: An Overview of the Journey Ahead” authored by global payments and mobile money expert Charles Niehaus.

Wave Money, Myanmar’s leading mobile financial service provider and METRO Wholesale Myanmar, a leading food service distribution business, have announced a partnership to digitize the food supply chain in Myanmar.

Wave Money, the leading mobile financial services provider in Myanmar, received the award for Best Payments Innovation at the 2019 Global Retail Banking Innovation Awards in Singapore.

Wave Money, the leading provider of mobile financial services in Myanmar, has collaborated with Yoma Bank to boost the development of micro, small and medium enterprises (MSMEs), thereby supporting the country’s economic development. Through this collaboration, Yoma Bank provides unsecured, instant credit to Wave Money agents to help these agents operate their businesses more productively.

“We express our deepest condolences to those impacted by the heavy flooding that has happened in Mon State. We are trying to do our part to assist in all ways possible. Thanks to our collaboration with the Network Activities Group, we can provide these communities with some of the humanitarian assistance they need,” said Brad Jones, CEO of Wave Money.

The Board of Wave Money (Digital Money Myanmar Limited), consisting of representatives from Telenor Group, First Myanmar Investments, Yoma Strategic Holdings and Yoma Bank is pleased to announce that Mr. Hal Bosher, a current director of Wave Money has been appointed as the new Chairman of Wave Money’s Board of Directors. The appointment is effective from 1st July 2019.