ArrowArtboardCreated with Sketch.Title ChevronTitle ChevronIcon FacebookIcon LinkedinIcon Mail ContactPath LayerIcon MailPositive ArrowIcon PrintIcon Twitter
Business trends

Myanmar's digital money transfers set to triple in 2019

Top operator Wave Money expects to move $4bn in cash as traditional remittances disappear

Wave Money has a nationwide network of 45,000 agents, far outnumbering bank branches and ATMs in Myanmar. (Photo by Yuichi Nitta)

YANGON -- Digital money transfer services in Myanmar by mobile phone operators and banks have all but replaced traditional remittances in only a few years.

CEO Brad Jones of Digital Money Myanmar -- operator of the country's leading remittance provider Wave Money -- says transactions via the service exceeded 2 trillion kyat ($1.3 billion) for the first time in 2018, adding that it will be "probably around $4 billion to $5 billion" by the end of 2019.

Sponsored Content

About Sponsored Content This content was commissioned by Nikkei's Global Business Bureau.

Nikkei Asian Review, now known as Nikkei Asia, will be the voice of the Asian Century.

Celebrate our next chapter
Free access for everyone - Sep. 30

Find out more