Ongo and Rent2Own partner to make rural mobility even more accessible
Myanmar’s first company to offer flexible rental services to help prospective buyers acquire a motorcycle, Rent2Own, and the market leading B2B digital payment service, Ongo, signed an agreement allowing customers in 9 regions of Myanmar to rent and eventually acquire motorcycles via the Ongo app and agents.
YANGON, Myanmar On Friday, 29 March, Ongo and Rent2Own signed an expansion agreement, giving even more clients – often rural entrepreneurs like farmers – the ability to easily and affordably rent a motorcycle to help expand their businesses and reach faraway markets.
The motorcycle rental business, Rent2Own, which began operations in Myanmar in 2015, focuses on providing flexible contracts and options to those in need of transportation, but who lack the means to make a purchase in one go. The company’s effort to improve rural mobility in the country has so far given over 98,000 people access to reliable transportation, allowing customers to not only expand their businesses, but also helping children get to school in hard to reach places and receive an education.
“Rent2Own helps make people’s lives easier. The flexibility in our contracts allows customers to access transportation affordably, giving them more time to focus on what really matters, earning an income to provide for their families,” explains Rent2Own CEO, Philippe Lenain. “Our new partnership with Ongo helps expedite this process even more by giving our loyal customers the ability to make payments in a more seamless, smooth and simple manner right on their phone or at any nearby Ongo agent location,” says Lenain.
Ongo, the market leading business-to-business (B2B) digital payment service in Myanmar, will now offer their services to Rent2Own customers in all areas where Rent2Own is operational. Rent2Own customers make payments quarterly and in the past, this meant having to take time out of their busy days to visit the Rent2Own office and make payments for their motorcycles. Now, payments can be made easily with the Ongo app or at any number of Ongo agent locations.
“I can now make payments to Rent2Own faster by using my Ongo/Rent2Own QR Card at my nearest Ongo Agent. I just show my QR Card or contract number to the Ongo Agent and they make a payment directly to Rent2Own. I don’t need to wait a long time for any document processing. It’s great!” explains Ko Sett Paing Soe, Rent2Own customer and Ongo user.
As the market leaders for business-to-business digital payment services in Myanmar, Ongo has partnered with over 100 business clients, 26,000 merchants and 400,000 consumer users. Its network has grown to reach 55 towns and cities across Myanmar. This recent expansion agreement between Ongo and Rent2Own is a great step forward in continuing to make people’s lives easier around the country through digitized payments.
For more information on the Ongo and Rent2Own newly expanded digitized payment system 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/ongomobilemoney, e-mail firstname.lastname@example.org or call 09-450888996-7, 09-444450816-8.
Ongo is the brand name for Ronoc Myanmar Limited and is the leading B2B digital payment service provider in Myanmar. Ongo operates in 55 Myanmar cities with over 1,100 Ongo agent employees providing digital payment services to over 110 corporate clients, 26,000 merchants and 500,000 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.
Rent2Own is the first company in Myanmar offering a flexible rental service to help prospective buyers acquire a motorcycle. Providing tailored options to those in need of transportation, but lacking the means to buy in one go. Our main focus is helping entrepreneurs, often farmers, to buy the motorcycles they need to generate income and grow their business.
Website : http://rent2own.com.mm
Facebook : https://www.facebook.com/Rent2OwnMM/
Email : email@example.com
Half a million users expected in first year
A new digital payment service has been launched for Myanmar which is expected to have over half a million users within its first year of operation. As the first business-to-business (B2B) focused mobile payments platform to be launched in Myanmar, Ongo allows companies to transfer funds directly between mobile devices.
As a comprehensive mobile payment solution, Ongo will offer a range of different services to businesses, including airtime top up, person-to-person (P2P) money transfer, mobile payroll, online payments, bill payments and B2B payments.
Initially 300 people will be employed by Ongo in Yangon and this is expected to grow to over 550 employees over the next twelve months.Ongo was formed in July 2015 following a partnership agreement between Irish investment advisory firm Ronoc and US mobile financial technology company Open Revolution.
A key aspect of the Ongo service is that FMCG distributors and retailers will now be able to perform transactions in an instant – removing the significant cash burden from their operations.
In addition to offering traditional forms of mobile money services where individuals can use funds in their e-wallet to make payments or transfer money, Ongo has developed processes to help FMCG distributors, banks and other local employers in Myanmar to quickly and easily facilitate salary payments. This is currently a lengthy and difficult process for employers and employees. With Ongo Payroll, payments will be instantly transferred to an employee’s e-wallet.
“This is a good time to be introducing a service like Ongo to Myanmar,” said Ongo Chairman, Michael Madden. “Myanmar is currently experiencing a digital revolution, with mobile phone penetration growing rapidly and expected to reach 90%+ within two years. The signalled lifting of US sanctions will provide a further boost to businesses adding to the strong economic forecasts and thriving business environment. Ongo also provides a means for progressing to a cashless system in a country which has low engagement with traditional banking services. Every user will have access to a suite of instant mobile financial services at the touch of a smart phone app. We anticipate that Myanmar will be the first market to move from cash directly to digital payments.”
“Over the last three years, Ronoc has invested extensive time and effort to develop strong market relationships”, said Allen Gilstrap, Ongo CEO “Those relationships feature regulators, leading banks, FMCG distributors and local business conglomerates. We have a partnership with Myanmar Oriental Bank that provides our mobile money licensing. MOB is a highly reputable local bank that has relationships with international development organizations like the IFC and others.”
For any queries or for further information, please contact firstname.lastname@example.org