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Singtel beefs up e-wallet with remittance service to Myanmar

Slowing growth in telecom services puts focus on diversification

Over the past decade, Singapore’s largest telecom service provider has diversified into areas such as mobile wallets, cybersecurity and digital advertising.   © Reuters

SINGAPORE (Nikkei Markets) -- Singapore Telecommunications is extending its mobile wallet service to allow remittances to Myanmar as it pushes deeper into the e-payments market in search of new growth areas.

The new feature, which will be available from March, will enable the 180,000 Myanmar nationals living in Singapore to send money home without the need for a bank account in either country.

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