Ongo and Myanmar Oriental Bank (MOB) link up their services, paving the way toward a digitized economy in Myanmar
The latest one-stop feature to be rolled out on Ongo’s e-Money mobile app will allow Myanmar Oriental Bank (MOB) customers to link their bank account conveniently on their mobile phones, allowing users to freely move money in and out of their savings account as well as into their Ongo mobile wallet for easy transactions.
YANGON, Myanmar – 13 January 2020 – Ongo and Myanmar Oriental Bank (MOB) are proud to announce their latest partnership today, which enables customers to easily access their bank account via Ongo’s mobile app. By integrating MOB and Ongo’s services, customers will be able to conveniently and freely move money into their MOB savings accounts, earning interest, as well as move money into Ongo’s mobile wallet for efficient transactions.
Ongo, the market-leading business-to-business (B2B) digital payment service in Myanmar specializes in cashless services and will now offer MOB and their customers convenience of choice right in the palm of their hands. “We are thrilled to partner on another front-line project together with MOB,” says Allen Gilstrap, Ongo CEO, “In 2018 we teamed up with MOB to provide the country’s first digital payroll services to employees, today I am proud to announce another partnership that will similarly aim to modernize and advance Myanmar’s digital economy.”
The launch of a new application programming interface (API) will integrate MOB’s core banking system and Ongo’s services and customer bases, so that customers of both organizations can easily take advantage of banking and digital services at the convenience of their mobile phones. The aim of the API is to link MOB’s traditional banking services with Ongo’s modern digital services and national network of agents for over the counter cash transactions.
“At MOB, we believe delivering superior service to our customers requires leveraging partnerships with advanced capabilities. Developing digital services in-house requires a significant upfront investment in infrastructure and people with technical capabilities that can be hard to find a new market like Myanmar,” explains MOB CEO, Dominic Notario. “We are therefore excited to partner with Ongo, whose existing infrastructure will work to help effortlessly integrate both MOB and Ongo’s services and customer bases”.
MOB and Ongo employees will be the first to use this new integrated MOB savings account/Ongo mobile wallet service beginning in January. MOB and Ongo customers will follow with access to the service later in Q1.
For more information on the Ongo/Myanmar Oriental Bank partnership or Ongo’s other innovative digital payment services, please visit the company’s official website at ongo.com.mm or Facebook account at facebook.com/ongoemoney, e-mail email@example.com or call 09-450888996-7, 09-444450816-8.
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Ongo is the brand name for Ronoc Myanmar Limited and is the leading B2B digital payment service provider in Myanmar. Ongo operates in 73 Myanmar cities with over 1,800 Ongo agent employees providing digital payment services to over 140 corporate clients, 26,000 merchants, and 850,000 consumer users.
With its licensing partner Myanmar Oriental Bank (MOB), Ongo App Users can use their smartphone to Cash-in (convert their cash into e-money) and Cash-out at hundreds of Cash Agent locations across Myanmar. Ongo services include; mobile airtime top-up, P2P money transfer, B2B payments, bill payments, digital payroll services, and online shopping payments. In addition, Ongo Users receive rewards in their Ongo App from leading Myanmar retailers and online merchants. Our goal is to promote financial inclusion in a safe, simple and convenient fashion.
About Myanmar Oriental Bank
Since 1993, Myanmar Oriental Bank Limited (“MOB”) has been a key player in Myanmar’s domestic banking industry. The MOB brand is recognized in the market for service quality, reliability, and prudent banking practices. MOB strives to be at the forefront of the latest banking trends, products, services, and practices. In 1995, MOB was the first credit card issuer in Myanmar. It was also among the first batch of six private banks to be permitted by Central Bank of Myanmar to operate foreign currency dealing and international banking. MOB was the first bank to join the International Finance Corporation (“IFC”) Global Trade Finance Program. Since 2015, IFC has worked closely with MOB’s management to modernize the bank through various advisory services.
For more information, please contact:
09 447 420 993 firstname.lastname@example.org