Source: Myanmar Times
Optimism for digital payment in Myanmar remains bright, as the world transit into a post-COVID-19 world. It was reported that the e-payment sector has grown by 7.1% in the year 2020, according to Oxford Business Group.
The report – COVID-19 Economic Impact Assessment presents a surge in fintech users overall by 20% during the pandemic.
The positive growth in this sector is an uptick sign for the country to provide banking assistance to a largely unbanked population.
The change in consumer behavior is mounting a challenge to reform and rejuvenate traditional banking systems. While it may take time for regulations to become clearer in this sector, the potential remains huge in years to come.