Home Insider Myanmar’s First Full Mobile Banking Service

Myanmar’s First Full Mobile Banking Service

March 3 – Myanma Apex Bank (MAB) launched “MAB Mobile Bank” at Park Royal hotel and proudly introduced MAB Mobile Bank to the market with an intention to provide bank services and financial services for everyone through using highly secure technology and wide agent network. MAB Mobile Bank is the first mobile bank service which allows linking of mobile wallet with current account at the bank. Designed for everyone, MAB Mobile Bank can be used by customers without an account at the bank and it can be used by all mobile phone users to transfer money to both account holders and non-account holders through the agents and branches around the country.

MAB Mobile Banking is highly secure and user information is also safely kept in the highly secure central computer at MAB. The transactions are encrypted at both ends and for every transaction i.e the send and receive transmissions. Therefore, even if the phones are lost or stolen, the users will face no risks as there will no access to the accounts. Additionally, we have provided for dual factor authentication. To make the transactions accurate, MAB app uses multi steps data confirmation to minimise the chance of making a wrong transaction.

MAB Mobile Bank account can be easily opened with very low cost at the local agents around the country and at all the 73 MAB branches around the country. Upon opening the account, users will be able to make transactions with account holders and non-account holders around the country without having to go to the bank. The users will have access to complete banking experience on their phones at all times and will be able to perform balance checking, money transfer to account-holders and non-account holders, bill payments, top up phone charges, top up Visa and Master Cards and many more additional services. MAB also has set up a 24/7 call centre for enquiries. MAB Mobile Bank users will be able to make payment in places such as supermarkets, convenience stores, and city bus and toll gates. Users in major cities such as Yangon, Mandalay and NayPyiDaw will be able to make electricity bill payments without needing to go to the office. Currently, MAB has partnered up with Telenor, MPT, Ooredoo, MecTel, 4TV, Columbus Travels and Tours, Sun Far Travels and Tours, Signature Fine Dining, Fuji Coffee House, The Garden Bistro Titan Source, BNF and JCGV Cinemas. MAB plans to expand their partnership with various organizations and businesses in the future.

Wong Hok Siong, Head of Mobile Banking of MAB said “MAB Mobile Bank work with all types of phones and SIM Cards. Whether it is a key pad phone or a smart phone, Micro SIM or Nano SIM cards, it works on all devices and all the Telco providers in Myanmar. Our product is designed to be easy to use, flexible and convenient for the users.” MAB Mobile Bank App is available in Myanmar, English and Chinese languages and is accessible through feature app which appears when the SIM tag is inserted and with the SMART app. Locating the agents and branches will be easier than ever because the SMART app shows the nearest agent and bank on the map. To make the experience of using the app user friendly, the functions are coded with different colours and arranged with a simple design. Users will be able to understand intuitively how to use an app without having to learn a lot.

On the day of the launch, MAB has 500 agents country wide to assist customers with their MAB Mobile Bank Services. Myanma Apex Bank is aiming to reach 10,000 agents in the entire country within two to three years. MAB will also introduce expanded mobile banking services in the future to make MAB Mobile Bank an even more complete experience.