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Myanmar banks on mobile money

wave-money

Carrying her wages in wads of cash across Myanmar was once a risky, onerous but unavoidable ritual for maid Khin Myint Oo.

But now she just pings off a text to move the money to her children back home as mobile banking sweeps into a country whose people have for decades been locked out of basic financial services.

Myanmar is spinning through a thrilling economic revival since shedding junta rule in 2011.

But with an embryonic banking system — an estimated 90 percent of the population still do not have an account — the country’s new civilian leaders are banking on mobile money as a shortcut.

For more on this story visit the following link: Pocket change: Myanmar banks on mobile money

Source: Mizzima

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