Thailand-based TrueMoney Myanmar is ended its partnership with Asian Green Development (AGD) Bank, TrueMoney announced.
After ending operations with AGD Bank, it will start working with Myanmar Apex Bank (MAB).
"TrueMoney Myanmar Co., Ltd only cooperates with Myanmar Apex Bank for local money transfer and withdrawal services, top ups for SIM cards and bill payments and the above mentioned services connected with the AGD Bank will be suspended," TrueMoney Myanmar reported.
According to the statement released by TrueMoney Myanmar, Managing Director Mrs. Kyi Thar Romanet confirmed that "TrueMoney Myanmar will cooperate with the MAB with the official permit from the Central Bank of Myanmar on the 8th anniversary of TrueMoney Myanmar and will work together in accordance with the mobile banking directive."
With an official permit from the Central Bank of Myanmar, TrueMoney Myanmar has partnered with the MAB to provide not only mobile financial services such as local money transfers and withdrawals, top ups for SIM cards and bill payments, but also deposits related to e-wallet operators for MAB’s users in Myanmar, TrueMoney Myanmar announced.
TrueMoney is currently providing financial services through agents in seven countries; Myanmar, Thailand, Indonesia Philippines, Vietnam, Cambodia and Malaysia.
TrueMoney Myanmar Co., Ltd, a subsidiary of Ascend Money Group, was established in November, 2014 and currently has more than 23,000 representatives throughout Myanmar.
