Overseas | Myanmar
As a large digital banking provider and financial infrastructure builder in Southeast Asia, ABC Fintech (Myanmar) aims to build a national financial service network serving all banks and financial institutions in Myanmar, which Wiseasy’s Acquiring System helps to provide the perfect solution to.
ABC Fintech offers bankcard, QR Code and next generation solutions to serve merchants and customers in Myanmar. The company knew that it needed more than just the typical global mainstream payment methods to succeed in its local market. Its trusted business partner – Wiseasy, provides ABC Fintech with a comprehensive mobile payment gateway and operation platform via the Wiseasy Acquiring System to integrate local mainstream mobile wallets. This move also made ABC Fintech the first payment service provider of UnionPay QR code payment in Myanmar.
With the Wiseasy Acquiring System, ABC Fintech opens doors for Myanmar merchants to accept Chinese payment methods like AliPay and WeChat Pay. However, the most important purpose and achievement in this cooperation is that ABC now allows merchants to connect and accept local Myanmar mobile wallets, including but not limited to KBZPay, SaiSaiPay, WavePay, and GrabPay. This will greatly facilitate the use of mobile payment by local e-wallet users in Myanmar and create great value for the development of the local mobile payment market.
Henry Wang, ABC Fintech’s Regional GM, noted that “The Wiseasy Acquiring System has demonstrated tremendous strength in connecting Myanmar merchants with local and global mobile wallets. It is fast and flexible. Merchants are now able to manage up to 700,000 transactions on the daily, thanks to Wiseasy.” Meanwhile, Wiseasy also provides the merchant and agent management system which can realize acquiring services of multilayer agents and chain merchant accounts quickly. Apart from mobile wallet aggregation, the system also generates a unified payment gateway for online and offline payment interface and static payment QR code management. Its open API design provides a unified interface document, allowing merchants or third-party institutions to integrate with their own system smoothly. The modular operation service platform is provided to meet the different operation needs of ABC Fintech’s partners and merchants.
Together by providing one-stop digital banking solutions that offer digital payment, acquiring, reconciliation, and SME solutions for businesses in Myanmar, Wiseasy and ABC Fintech aim to empower financial inclusion via the finest fintech globally.