The first product of its kind in the Myanmar utilizing debit cards, innovative solution marks country’s next major step towards a cashless finance ecosystem.
YANGON, MYANMAR, 24 JULY 2018 – Ongo, the market leading business-to-business (B2B) digital payment service in Myanmar has partnered with Myanmar Oriental Bank for the launch of an innovative, secure and convenient digital payroll service for Myanmar employers. The companies held a joint press conference today at Sule Shangri-La Hotel for the launch of this integrated Payroll Program which is a first in the Myanmar market and marks a significant advance in the digital transformation of Myanmar businesses burdened with burdensome cash handling issues.
This Ongo/MOB service will feature Ongo desktop software in which employers can enter and maintain the payroll details for all their employees. The service enables the employer to instantly send all payroll payments digitally to their employee’s Ongo mobile wallet with a single click. Employees can choose to withdraw all or a specific portion of their payroll payment at any Ongo Agent location in Myanmar or keep a portion of their payroll payment on the Ongo mobile wallet to digitally transfer money to their family, buy airtime, pay bills, earn rewards, shop online or at participating store locations.
The launch of this Ongo/MOB service is the first-of-its-kind in Myanmar and is a major milestone in the country’s journey toward a cashless ecosystem,” said Allen Gilstrap, Ongo CEO. “This digital payroll solution will provide extraordinary convenience to employers while empowering payroll recipients to keep firm control of their money with both the Ongo mobile wallet and the Ongo/MOB debit card.
All employees enrolled by their Employer in Ongo/MOB Payroll Program, will receive a cobranded Ongo/MOB debit card that will be linked to their Ongo mobile wallet. This debit card can be used at any Myanmar ATM or at any MPU points-of-sale nationwide.
“Myanmar Oriental Bank is excited to partner with Ongo to provide this unique digital service for Myanmar employers and their employees,” said Dominic Notario, Myanmar Oriental Bank CEO. “This solution is a much-needed digital transformation of the way businesses operate here and will eliminate the need for employers to deal with cash and revolutionize how payroll operations are managed,”
For more information on the Ongo/MOB Payroll Program 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 which provides digital payment services in Myanmar 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 in Yangon and Mandalay. Ongo services include; mobile airtime top-up, P2P money transfer, B2B payments, bill payments, and online shopping payments. In addition, Ongo Users will 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.
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About Myanmar Oriented Bank Limited
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.