17 trading days ago10 Sep 2018 10:59
MySQUAR Limited Mobile Money Soft Launch
Eric Schaer, CEO of MySQUAR, said: "The existing cross-border remittance options from Singapore to Myanmar are either expensive, ranging from 10-15% of the transfer amount through formal channels, or carry higher risk through cheaper informal channels. We have redefined the Singapore-Myanmar remittance corridor by offering a service that combines convenience and low cost through a licensed and fully compliant channel. The World Bank reported the annual remittances into Myanmar to be around USD 8 billion as at 2015. A full launch of the remittance service is anticipated by the end of September 2018 and we look forward to providing additional mobile money options as we move towards becoming a leading payment solutions provider in Myanmar."