Viettel introduces MytelPay in Myanmar

Customers experiencing convenient services of Mytel Pay.

Mytel has made a miracle as it has become the third largest network provider (with 14% of the market share) and the most favorite operator in Myanmar after only one year of operation.

MytelPay is expected to contribute to the development of Myanmar's socio-economy by creating more than 20,000 jobs as well as by helping this country develop an e-finance, e-commerce and later a cashless society.

MytelPay's strategy is to make use of cash flows and to develop its key customers as Mytel's selling points. The company aims to set up MytelPay transaction points in such a way that customers can find one within 10 minutes of travelling in urban areas and within 30 minutes of travelling in rural areas. With over 20,000 MytelPay transaction points in 18 provinces in Myanmar, MytelPay will meet the needs of local people for the service while saving their time and money.

What makes MytelPay different from other e-wallet services in Myanmar is its more optimal security. Mytel has designed two-factor authentication for all of its banking transactions. Both transferor and transferee of an online financial transaction will have to authenticate the transaction by entering the secret passwords texted by the system of MytelPay to the transactors. Meanwhile, other e-wallet services in Myanmar are still using simple authentication methods; as a result, their customers take high risks of losing money.

Mytel officially launches its e-wallet service, named Mytel Pay.

Do Manh Hung, General Director of Viettel Global said that the birth of MytelPay is part of Viettel’s comprehensive strategy on digital transformation. Viettel has successfully developed its e-wallet and money transfer system in all of its invested markets.

According to Viettel, its e-wallet not only brings good services to its customers, but also increases the company's revenues and numbers of customers.

One of Viettel’s successful e-walets is eMoney, the e-wallet service of Metfone (Viettel’s brand in Cambodia). In fact, eMoney has contributed to changing the trade habits and money transaction of Cambodian people. After only 3 months of operation, the number of agents has risen from 1,000 to 4,000, surpassing the total number of channels that the rival Wing has been setting up for 6 years.

Meanwhile, Mosan e-wallet service provided by Telemor Company (Viettel’s branch in East Timor) has been evaluated by Timor Central Bank as one of the 4 major breakthroughs of the country's banking industry in the period of 2016-2018. Similarly, Lumicash e-wallet service is successfully run by Lumitel Company (Viettel’s branch in Burundi). After 3 years of operation, the e-walet held the largest market share and earned 1.74 million USD of revenue in 2018, accounting for 2.3% of Lumitel's total revenue.

MytelPay is expected to be another success story of Viettel in Myanmar.