Dec 06, 2012
Singapore, December 4th 2012 – Visa Inc. announced today it will host the first-ever mobile and electronic payments conference to be held in Myanmar. Scheduled for 11-December 2012, the event will be held at the Myanmar International Convention Center in Naypyitaw, Myanmar.
Featuring a range of leading experts in the field, the Myanmar Mobile and Electronic Payments Conference 2012 will introduce attendees to the macroeconomic benefits that electronic payments bring to an economy. The conference will also examine the various business models and technologies for establishing and growing mobile payments.
The conference will cover the full scope of mobile payments topics, including an in-depth discussion on branchless banking as a ‘leapfrog’ infrastructure solution to reach a larger portion of Myanmar’s population previously underserved by traditional brick-and-mortar retail banking outlets.
“More than one billion people in emerging economies do not have a bank account, but they do have a mobile phone, and that number is expected to reach 1.7 billion in 2012.1 Mobile payments will be a game changer in advancing the electronic payments infrastructure of emerging markets like Myanmar,” said Peter Maher, Visa Group Country Manager, Southeast Asia and Australasia. “While mobile phone penetration is still low in Myanmar with less than two percent of the population with access to mobile phones, we expect dramatic expansion in the availability of mobile devices over the next 18 to 24 months. This means that the opportunities to provide secure, convenient and affordable financial services can soon become a reality for the people of Myanmar.”
Government officials, financial institutions, international development organizations and other industry groups have been invited to the conference, which will offer presentations, case studies, demos and question-and-answer sessions to inform participants about mobile payments and branchless banking. Visa executives and industry experts will also examine how effective regulation of mobile payments can be essential to the success of mobile payment systems. Policymakers will have the chance to better understand current mobile payment regulation as the industry evolves, including trends and examples of best practices from around the world.
In the final panel, ‘What does this mean for Myanmar?’, civil society thought leaders in Myanmar will join Visa to discuss the benefits of electronic and mobile payments for citizens of Myanmar. Several bank executives are also expected to share their views on how electronic and mobile payments will impact Myanmar’s financial industry.
“As economic and political momentum continues in Myanmar, Visa remains committed to partnering with government entities, financial institutions and others to develop secure and affordable electronic payments innovation that reach a wide audience and boost efficiency, growth and financial inclusion,” added Maher.
Re-disseminated by The Asian Banker