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Myanmar Crisis

Myanmar embraces mobile payments under military rule

Authorities use services to crack down on funding to rebels

Services like KBZPay and Wave Money have become a popular alternative to cash in Myanmar. (Photo obtained by Nikkei)

BANGKOK/YANGON -- Mobile payments have become a fixture in Myanmar since the military took over nearly two years ago, after a severe shortage of cash pushed consumers to explore digital alternatives.

Two players now dominate the landscape. Wave Money is owned by the Yoma group, a local conglomerate, while KBZPay is operated by local lender KBZ Bank.

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