Myanmar to implement interoperable mobile payment system by the end of 2019

16 May 2019                                                      

In the late 2000s, one mobile SIM card was worth around MMK 4 million or 5 million. With that same amount, a person could buy one licensed vehicle back then.                                                                                    

The mobile telecom network was monopolized by one particular company, at that time.

U Bo Bo Nge, Deputy Governor, Central Bank of Myanmar said he welcomed the competitive markets now so that it will boost business’s to grow.

Now, there are at least four mobile telecom operators in Myanmar including MPT, Ooredoo, Telenor and Mytel.

In the back 2000s, there was only one mobile telecom operator, MPT, which monopolized the whole market of mobile telecom. If MPT had not taken the step to change, we would not have made it this far, expressed U Bo Bo Nge.

Myanmar will try to make mobile payment system to be interoperable by this year, 2019 with the current existing telecoms.

In 2017, U Bo Bo Nge met with one governor from the Maldives and then he shared the fail story of mobile payment system there. He said, there were only two operators back then in the Maldives. Due to un-interoperable, finally the mobile payment system failed. 

U Bo Bo Nge further said we had passed the period when Myanmar Post Telecom monopolized the telecom market. 

LOOM