Vodafone looking to launch M-Pesa in Myanmar

Vodafone looking to launch M-Pesa in Myanmar

Vodafone is reportedly planning to bring its M-Pesa mobile payments system to Myanmar if it wins its bid for a mobile operator license.

Myanmar is auctioning off two licenses and has shortlisted 12 companies as part of the bidding process.

If successful, Vodafone will reportedly look to roll out the M-Pesa service rapidly as it sees the country as an area for growth in terms of its banking systems.

“It is pretty much green field so we could jump ahead on technologies quickly,” Nick Read, chief executive for Vodafone in Africa, the Middle East and the Asia Pacific, told the Financial Times.

The M-Pesa service, launched in 2007, is designed to provide an efficient and secure method of transferring money via customer mobiles.

Read said that Myanmar would benefit from the system, “given a banking sector that is under-developed”.

Gaining the mobile operator licence would allow Vodafone to further extend its global footprint and follows an LTE partnership its Netherlands subsidiary made earlier this week with OpenCloud.

Gift this article