Electronic bill payments may soon become the main form of payment in Myanmar, with the help of easyBills.
Developed by 2C2P and the Myanmar Payment Union (MPU), easyBills aims to eliminate the traditional cash-based, over-the-counter method of payment. MPU is the national payment network of the Republic of the Union of Myanmar that authorises the issuance and acceptance of all payment cards within the country. There are almost a million MPU cards in Myanmar, and the number is set to grow rapidly, according to MPU.
With easyBills, Myanmar citizens can recharge and add value to their Myanma Posts and Telecommunications (MPT), MECTel, Telenor and Ooredoo prepaid cards using their MPU cards. By mid-June, easyBills will expand to include the payment of electricity and other utility bills with domestic utility partners.
According to research consultancy Ovum, there were 10.7 million mobile subscriptions in Myanmar last year. This number is expected to grow and reach 38.5 million by end of 2019 as operators expand their networks to rural areas. The move to roll out easyBills rides on this increasing uptake of mobile devices, while supporting the growth of Myanmar's e-commerce market.
"Although e-commerce in Myanmar is at a nascent stage, with rapidly improving mobile penetration, a growing consumer middle class, and with improved logistical and financial infrastructure, the potential for e-commerce is tremendous," said Aung Kyaw Moe, CEO of 2C2P. "Launching easyBills continues 2C2P's path to providing a robust payment infrastructure to support Myanmar's growth."
Together with its partners, 2C2P has been actively developing the financial services infrastructure in Myanmar. Earlier this year, it launched a reloadable prepaid card accepted by MasterCard merchants globally called Citizen Card, as well an e-commerce payment platform that allows citizens to shop online.
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