The digital payment service, a joint venture between Telenor and Yoma Group, has received $73.5m from Ant Financial as part of a newly inked partnership deal.
E-commerce group Alibaba’s financial services affiliate, Ant Financial, agreed today to invest $73.5m in Myanmar-based finance transfer service Wave Money through a strategic partnership agreement.
Operating as a joint venture between diversified conglomerate Yoma Group and telecommunications firm Telenor, Wave Money operates a money transfer service that spans 57,000 retail outlets in Myanmar.
The company also offers additional services such as digital payment, utility bill payments, phone credit top ups, and remittance for small and medium-sized enterprises (SMEs). It can…
