Mobile Payment: Joint Unified Mobile Platform Required : Experts

29 May 2017

For the development of financial sector especially in mobile payment sector, a joint unified mobile platform should be created, international experts pointed out at the summit held in Yangon on Monday.

It’s the 2nd FinTech and E-Commerce summit to contribute to the development of the financial and economic sector of the country.

As Myanmar has potential for economic development with the ways including penetration of smart phones, unification of singular mobile platform should emerge, one of the speakers said.

Chairman, Cellum Global, János Kóka:  “There are numbers of banks, other financial institutions that try to get foothold in this new digital era. However this is not unified yet. There are no joint efforts to create one single interoperable, skill able, robust and secure platform on to which ...million of Burmese people can transit over the mobile phone. Myanmar has every opportunity to be the hottest market, one of the hottest markets over the world for Fintech and digital payment. You need unify digital platform.”

Speakers from Europe, neighboring countries shared knowhow and experiences on mobile payment system.

International experts are ready to assist to drive the payment industry of the country, Managing Director of Financial Advisory Agency said.

Managing Director, Financial Advisory Agency, Tim Scheffmann: “There is a water taxi or new bus system. Future in Myanmar, people think about how to pay then those solutions. And that's , these vertical I'll help them to pay the whole pay ecosystem. And of course within the payment ecosystem, future events will be very important to drive the payment industry.”

Situation of E-commerce system in Myanmar and other countries will be discussed on Tuesday.