On September 19, Ooredoo announced its mobile money solution ( M-Pitsan) is ready for Myanmar people. It allows customers to convert cash into electronic money which is stored in their mobile phones. This “conversion” from cash to digital value is done at any of the M-Pitesan agents around the country. This electronic money has the same value as actual cash, and can be used for a variety of purposes – from sending money to family and friends instantly to paying household bills and buying airtime.
The ‘M-Pitesan’ (meaning ‘M-Cash”) brings together state-of-the art technology, advanced customer security features, easy access and 24×7 customer support which is available for all Ooredoo customers Money can also be transferred to any mobile number and exchanged for cash again at any M-Pitesan agent.
Mobile money makes life easier in many ways – sending money can be done anytime from your own home, 24 hours a day, instead of having to travel to a bank or stand in long queues.. Additionally M-Pitesan will be integrated directly with CB Bank allowing for real-time value movement between the bank account and the mobile wallet.
thousands of agents where customers would be able to exchange their physical cash into electronic money. These agents make the service easily accessible and at the same time create employment opportunities for Myanmar citizens who are looking to create a new way of earning a living in Myanmar, especially in rural areas of the country.
Mr. Vikram Sinha, Acting CEO of Ooredoo Myanmar said, “Ooredoo supports financial inclusion for everyone and M-Pitesan aims to do just that, bring all people of Myanmar closer to a better future through this secure money transfer option. Together with our largest distribution network and our first class customer service, I believe that M-Pitesan will meet the needs of our customers who want to send money anywhere, anytime in Myanmar. This market is ready for the next evolution in mobile money and I am confident that M-Pitesan will take the financial services industry to the next level as we offer the service capability to all customers, banks and businesses alike.”
