Bankers, telcos, solution providers and technology vendors gather at Mobile Money + E-Commerce Summit 2015 to tap into opportunities in new financial services

Cynthia Liaw, head of virtual banking & payments of Maybank, shares experience in mobile banking and mobile transfers at the 6th Annual Asia/Myanmar Mobile Money + E-Commerce Summit 2015 in Yangon on Wednesday.
Cynthia Liaw, head of virtual banking & payments of Maybank, shares experience in mobile banking and mobile transfers at the 6th Annual Asia/Myanmar Mobile Money + E-Commerce Summit 2015 in Yangon on Wednesday.

Mobile network operators and service providers, experts, mobile financial services technology enablers and equipment vendors on Wednesday came together at the 6th Annual Asia/Myanmar Mobile Money + E-Commerce Summit 2015 to tap into opportunities in new financial services market in Myanmar.
This year’s summit, with a special focus on enabling participants to maximize their networking opportunities in Myanmar’s mobile financial services market, is set for two days at Parkroyal Hotel in Yangon. Already in its sixth year with successful runs in Asian and African countries, this summit is the second for Myanmar after the 5th Annual Mobile Payments & E-Commerce Emerging Markets/Asia Pacific 2014 Summit.
Featuring insightful topics and discussions by exceptional speakers and specialists, the first day of the summit focused on experiences and tapping new opportunities in the mobile payment and e-commerce business, which is about to boom in Myanmar that has now become one of the most sought-after countries among newly emerging economies. “It is not too soon for Myanmar’s telecom and banking communities to embrace mobile banking initiatives and e-commerce possibilities, U Khin Maung Nyo, an economist, told The Global New Light of Myanmar. But he stressed the importance of trust and security paving the way to a safe environment in which to send money online.
“From my point of view, late movers will be given the advantage of not sustaining the risks,” said U Than Sein of United Amara Bank Ltd, adding not to worry about security risks. He highlighted advantages of choosing ones that are proven to minimize security concerns and being provided by international technology vendors dealing with security of mobile banking and payments for many years.
In Myanmar, some domestic banks, including CB Bank and Inwa Bank, that have recently launched mobile banking services and telcos are about to race to get a slice of the new market. The financial services aiming to reach out to a large unbanked population in rural areas are expected to boom in the country.

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