Mobile Money in Myanmar: Going Directly from Cash to Digital

A new breed of “fin-tech” company wanted to take advantage of rapidly growing mobile phone and internet use to offer financial services to the unbanked population of Myanmar. Being a fast, safe and secure Mobile Money System for the mobile era, The company set up an Online Bill Payment service to pay and receive money.


Myanmar was in the middle of an economic transition when Estel first contacted the fintech. Myanmar’s population and economy faced harsh restrictions which hindered the rise of a banking system that could serve all. The rapidly growing mobile population offered an opportunity to create financial inclusion using a cost-effective model.


Estel engaged with local entrepreneurs in Myanmar to discuss & strategize the launch of mobile money service in Myanmar, to leapfrog the economy from cash to digital financial services.
Our client became one of the first companies to introduce mobile money in Myanmar and has gone on to become a leading provider of this service. Using Estel mobile money platform they have been able to provide a very wide variety of affordable financial services to a general population of Myanmar. The agent management module of Estel platform has been well capitalized to create a very wide & loyal distribution network and reach the unbanked throughout the country. Customers can now deposit, withdraw, send and receive money, pay for a range of goods, services such as PAY TO –P2P/Transfer/Merchant Payment, TICKETING ( BUS/Ferry) TOLL PAYMENT, and bills using mobile money.


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