Thai CP Group unit True Money Myanmar to test money transfer service soon
In this article (5)
The firm is currently working in Myanmar as a mobile top-up service provider for Myanmar Post and Telecommunications (MPT) and MEC since September 2015.
In Myanmar, the money transfer service will be through True Corporation Plc, a subsidiary of the CP Group.
True Money Myanmar Company Limited has already recruited agents around the country to enable easy access to banks.
“We want to help people who are not able to reach banks easily. For people who have to go to another township to use the bank,” said Amara, assistant marketing manager of True Money Myanmar Company Limited.
The firm is also aiming to expand to other payment services like bill payments and international remittance.
The money transfer service is looking at the possibility of offering safe and easy remittance facility for the Myanmar population working in south east Asian countries.
True Money Myanmar is targeting the retail customers for the money transfer business. It is also in talks with Aeon credit service and Gold Bus online booking company for future partnerships.
True Corporation Plc also operates internet services operator, data centres and pay TV business.
Questions & Answers
Q.When will True Money Myanmar begin testing its money transfer service?
When will True Money Myanmar begin testing its money transfer service?
True Money Myanmar will start test-piloting its money transfer service from January 2016. This initiative is being undertaken in partnership with the local Asia Green Development Bank.
Q.What services does True Money Myanmar currently provide in the country?
What services does True Money Myanmar currently provide in the country?
The firm is currently working in Myanmar as a mobile top-up service provider. They offer this service for both Myanmar Post and Telecommunications (MPT) and MEC, having started in September 2015.
Q.Which customers is True Money Myanmar targeting for its money transfer business?
Which customers is True Money Myanmar targeting for its money transfer business?
True Money Myanmar is specifically targeting retail customers for its money transfer business. They also aim to assist people who find it difficult to access traditional banking services easily.
Q.What future expansion plans does True Money Myanmar have beyond money transfers?
What future expansion plans does True Money Myanmar have beyond money transfers?
Beyond money transfers, the firm aims to expand into other payment services, such as bill payments and international remittance. They are also exploring providing remittance facilities for Myanmar nationals working in Southeast Asia.
Reader pulse
True Money Myanmar's strategy?
24,488 votes so far