Thai e-wallet platform provider joins hands with Myanmar retailer.
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A joint venture agreement between them was signed during a Myanmar-Thailand cooperation mission presided over by Myanmar State Counsellor Aung San Suu Kyi and Deputy Prime Minister of Thailand Dr Somkid Jatusripitak in Nay Pyi Taw yesterday.
The joint venture will leverage the strengths of both parties to launch various innovative fintech services such as payment platform, loyalty, e-gift platform and closed- and open-loop e-wallets for Myanmar’s population of 51 million. The joint venture is a key stepping stone for T2P to expand its services beyond its home country Thailand and for City Mart to offer new products through its existing retail platform.
Questions & Answers
Q.What is the primary purpose of this joint venture agreement?
What is the primary purpose of this joint venture agreement?
The joint venture aims to launch various innovative fintech services in Myanmar. These include payment platforms, loyalty programmes, e-gift platforms, and both closed and open-loop e-wallets for the country's population.
Q.Which specific fintech services will this partnership offer?
Which specific fintech services will this partnership offer?
The partnership plans to offer services such as payment platforms, loyalty programmes, and e-gift platforms. It will also introduce closed-loop and open-loop e-wallets to the Myanmar market.
Q.How will this agreement benefit City Mart, the Myanmar retailer?
How will this agreement benefit City Mart, the Myanmar retailer?
This agreement allows City Mart to introduce new products to its customers. The retailer can use its existing platform to offer these new fintech services to its consumers.
Q.What expansion goal does T2P hope to achieve with this joint venture?
What expansion goal does T2P hope to achieve with this joint venture?
T2P sees this joint venture as a crucial step for expanding its services. It allows the company to grow its operations beyond its home country of Thailand into the Myanmar market.
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