Payments company, 2C2P, currently has 320,000 offline payment locations across Southeast Asia for its "123" payment solution.
123 is an alternative payment service which allows customers of 2C2P's merchants in Indonesia, Malaysia, Myanmar, Singapore, Thailand and the Philippines to pay for their online purchases. Customers who buy from 2C2P partner merchants will now have the option of paying for their purchases using 123. If they choose to do so, they will be provided with a barcode which can be printed out or scanned from their mobile devices to allow them to pay the goods.
2C2P said, just for this year, they were able to open 12,000 new offline payment locations in Myanmar, which is nearly 10 times the network of the country's largest bank.
"2C2P has made extensive efforts to open up Myanmar's unbanked population to e-commerce. As the country continues to see increased mobile penetration, rising urbanisation and improved consumer spending, there is an urgent need to modernise its e-commerce and payments infrastructure," said Aung Kyaw Moe, CEO and Founder of 2C2P, in a press release.
"2C2P, through 123, looks to bring convenience to Myanmar's citizens, particularly those that remain underserved by banking and financial institutions - lacking banks accounts, credit and debit cards or access to a bank branch. They can now, for the first time, tap into the fast-growth of national, regional and global e-commerce by paying for their online purchase at a convenient offline location via 2C2P's extensive network of physical channel partner locations," added Aung.
Sign up for CIO Asia eNewsletters.