E-payments scene in Myanmar takes a step closer to enhanced social distancing

Pandemic-driven digitalization waits for no country, not even one of the poorest nations in South-east Asia …

In these times of pandemic-driven social distancing and the need for contactless payments, two tech firms in Myanmar have forged a partnership to benefit mutually from digitalization.

Myanmar-based digital services platform NearMe and logistics provider Ninja Van Myanmar, have teamed up to allow that latter company’s partners to accept digital payments from their customers. The partnership will enable business and retail partners to have access to NearMe’s e-payments platform, and empower them to accept cashless payments via mobile wallets from their customers.

Over 50,000 retailers use NearMe to accept payments for a wide range of goods and services. During the pandemic lockdown in Myanmar, transaction volumes on the e-payments platform have increased exponentially, indicating a rise in demand for digital payments.

Said Lynn Htaik Aung, Chief Executive Officer, NearMe: “Partnering a logistics firm like Ninja Van Myanmar is a great opportunity for us to tap on their network to introduce digital payment acceptance to more social media sellers, businesses and enterprises, and mitigate the spread of COVID-19

. With its easy-to-use interface, our comprehensive retail digital services platform encourages businesses and consumers across Myanmar to participate in the digital economy. We strive to make our platform widely accessible across the country and welcome partnerships like this to advance our vision.”

Ninja Van Myanmar’s Chief Executive Officer Kyaw Thet Zaw said: “We are very pleased to be able to use NearMe’s e-payments platform. The use of e-payments will decrease the risks involved in cash handling and reduce exposure to COVID-19 from banknotes. Our firm will pioneer the e-payments option in the e-commerce sector to help accelerate the transition to a cashless economy in Myanmar. This move will provide better visibility and flexibility for the sellers, consumers and intermediaries.”

This kind of partnership marks the trajectory for South-east Asia’s digital payments landscape to grow to US$1.2T by 2025, according to a report by Google and partners.