Ongo e-Money service brings convenience to Hayman loan borrowers
“I welcome the partnership of Hayman and Ongo since it will make it very convenient for me to pay back my loans. I don’t even need to leave my house.” -Hayman loan borrower.
YANGON, Myanmar – 25 October 2019 – Ongo, the market-leading business-to-business (B2B) digital payment service in Myanmar is thrilled to announce their newest partnership with Hayman Microfinance, a rapidly and sustainably growing microfinance institution (MFI) that’s been operating in Myanmar since 2014. With more than 110,000 loan borrowers across the country, 70% of whom reside in rural areas and 77% of whom are women, Hayman is thrilled to join forces with Ongo to provide their loyal borrowers easy, simple loan repayment services.
One of Hayman’s borrowers, U Kyaw Kyaw Hlaing, has been taking loans from Hayman to support his autobody workshop in Yangon for three years. “I started getting loans from Hayman to help expand my business. Their service is great, and their staff supervisors help us a lot,” Hlaing says. “I look forward to the partnership between Hayman and Ongo since it will make loan repayments very easy, I won’t even need to leave my house,” explains Hlaing.
While Hayman is working to expand and bring more branches to their new and existing customers across the country, the aid of Ongo’s mobile application will make the repayment process even more simple for their borrowers and loan officers. Each month, borrowers make their loan repayments at the Hayman branch nearest them. By allowing borrowers to repay their loans via the Ongo app or at an existing Ongo agent, it allows more time for the agents to invest in continued outreach and support of their customers.
The success of some borrowers’ businesses makes it difficult for them to take time off to even visit the Hayman branch to repay their loans. In fact, one loan borrower says, “I am usually very busy with my work when it comes time to pay back my loan and I cannot take time to go all the way to the branch,” explains Daw Sandar Win, a copy shop owner and Hayman borrower of two years.
Technology has increasingly become a normal part of people’s everyday lives and often helps them to perform daily tasks with ease and convenience.
“As Myanmar becomes more connected through digital technology, it is important for businesses to innovate and provide more effective services and products to their customers.” says Allen Gilstrap, Ongo CEO. “At Ongo, we are proud to serve Hayman and their borrowers through our user-friendly, efficient e-Money application and network that not only allows for the repayment of loans, but other time-saving services such as person-to-person transfers, airtime top-up, bill payments and more,” says Gilstrap.
“At Hayman Microfinance, our customers always come first,” explains Mr. Sultan Marenov, Chairman & Managing Director of Hayman Capital Co., Ltd. “As we continue to expand our branches further throughout the country to reach more people, this partnership with Ongo has come at the perfect time, allowing us to offer them even more options when it comes to loan repayments,” says Mr. Sultan Marenov.
Once the digital service with Ongo commences this month, clients of Hayman can easily repay their loans at any Ongo agent location or simply with the Ongo smartphone app themselves. As all Ongo mobile wallet accounts are monitored and regulated by the Central Bank of Myanmar under the Mobile Banking License (MBL) directive through Myanmar Oriental Bank (MOB), customers can get the security of a bank regulated account without ever having to visit a bank branch.
For more information on the Ongo/Hayman Capital 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/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 1,900 Ongo agent employees providing digital payment services to over 140 corporate clients, 26,000 merchants, and 750,000 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.
For more information, please contact:
Zar Pann Phyu
+ 959 770 551 384
About Hayman Capital Co., Ltd
Hayman Capital Co., Ltd, a deposit-taking Microfinance Institution, is a 100% subsidiary of the Singapore-based International Investment Company – Hayman Capital Pte., Ltd. The Company was established in 2014 and it disbursed its first loan in July 2015. Currently, it has 19 branches across 4 regions in Myanmar.
For more information, please contact:
Nyan Lin Tun
+95 9 457 199 656