Key Facts for Myanmar
- Primary real-time rails: Wave Money, Ooredo Mobile Money, MPT Mobile Money.
- Typical settlement times: Instant.
- Common limits: Daily withdrawal from personal accounts is capped at 200,000 kyat.
What “real-time payments” means in Myanmar
In Myanmar, “real-time payments” are not formally defined by law but are understood as instant digital transactions that support financial inclusion. The concept is primarily actualized through mobile money services and the national MyanmarPay MMQR system. The scope is broad, covering person-to-person transfers, government service payments, and merchant transactions, aiming to build a comprehensive digital payment ecosystem. While a specific legal definition is absent, the regulatory framework is established through mobile financial services licenses and rules set by the central bank, including transaction limits on services like Wave Money.
The Central Bank of Myanmar is the lead regulator, overseeing a system operated by mobile money providers and the national switch operator, PayPlus. The country is building its system using Mojaloop open-source software. Specific subsidiary clearing houses are not established, with settlement often occurring within closed-loop networks or via a central switch (industry norm). While a specific messaging protocol is not mandated, the global standard is ISO 20022 for its rich data capabilities (industry norm), which complements the existing use of USSD for basic phones.
Like other emerging economies, Myanmar is leapfrogging traditional banking infrastructure by moving directly to a mobile-first payments model, following a development path similar to those seen in African nations.
Payment Rail Overview
Wave Money
As Myanmar's pioneering mobile financial service, Wave Money was introduced around 2016. It operates through a mobile app and a vast network of over 61,000 agent shops, allowing users to send and receive money without a traditional bank account. The system functions on a mobile wallet linked to a user's SIM card, with transactions confirmed instantly.
- Agent Network: A network of over 61,000 "Wave Shops" facilitates nationwide cash-in and cash-out services, even for users without a formal account.
- Mobile Wallet App: The Wave App offers a secure and convenient way to manage funds and perform cashless transactions from a smartphone.
- Bank-Free Access: It operates under a mobile financial services license, opening digital payments to the large unbanked population.
- Dual Accessibility: The service is accessible on both basic feature phones through USSD and on smartphones via a dedicated app.
Pros: Extensive agent network, first-mover advantage, and high adoption rates.
Cons: Operates as a closed-loop system, limiting direct transfers to other networks.
MPT Mobile Money
Launched around mid-2017, MPT Mobile Money is the digital payment service from Myanmar's state-owned and largest telecom operator, MPT. It provides a mobile wallet tied to an MPT SIM card for person-to-person transfers and other digital transactions. The service was designed to capture MPT's massive subscriber base and extend financial services into rural areas.
- MNO Integration: As the offering from the largest mobile network operator, it has the potential for an enormous built-in user base.
- Rural Focus: Support for USSD on basic phones makes it accessible to users in areas with limited smartphone penetration or data connectivity.
- Simplified Onboarding: Account creation is linked directly to the SIM card registration process, lowering the barrier to entry.
Pros: Backed by the country's largest telecom provider with potential for wide reach.
Cons: Entered the market after Wave Money and operates within a closed network.
Ooredo Mobile Money
Ooredo Mobile Money is the financial service from international telecom firm Ooredo, which entered the Myanmar market in 2013. Launched around mid-2017, it competes directly with Wave Money and MPT by offering a similar mobile wallet system. The service allows Ooredo subscribers to perform digital transactions using their mobile devices.
- Competitive Offering: Its presence contributes to a competitive market, which can drive down costs and improve service for consumers.
- Standard MFS Model: Follows the established mobile money framework of agent-based cash-in/out and digital person-to-person transfers.
- Telecom-Led: The service is integrated with Ooredo's mobile network, building on its existing subscriber relationships.
Pros: Contributes to market competition and provides an alternative for Ooredo subscribers.
Cons: Smaller subscriber base compared to competitors and lacks interoperability.
MyanmarPay MMQR
MyanmarPay MMQR is the national standard for QR code payments, designed to unify the country's digital payment landscape. Implemented in 2022 and officially launched in 2025, it is operated by PayPlus under the authority of the Central Bank of Myanmar. The system functions as a central switch, enabling interoperable transactions between different banks and mobile wallets through a single QR code.
- National Interoperability: Creates a unified payment experience by allowing any compliant app to transact with a single QR code, breaking down closed-loop systems.
- Central Bank Mandate: Its status as an officially awarded system by the Central Bank provides a high degree of trust and regulatory backing.
- Central Switch Operation: PayPlus manages transaction routing, ensuring payments are cleared and settled between different financial institutions.
Pros: Fosters an open and interoperable payment ecosystem, simplifies the experience for merchants and consumers, and carries official government recognition.
Cons: As a newer system, its full market adoption and network effects are still developing.
Limits, Fees, and SLAs
- Limits: Personal accounts are capped at a daily withdrawal of 200,000 kyat. Business accounts can reach 30 million kyat daily with formal registration.
- Fee Structures: Inbound deposits and in-network transfers are free. Outbound transactions, such as cashing out, typically incur a fee.
- R2P Fees: Sending money within a network is generally free. No specific charges for request-to-pay transactions are detailed, but cash-out fees apply.
Compliance and Risk
KYC/KYB & AML
Myanmar's Central Bank mandates risk-based KYC/CDD. Personal accounts have minimal requirements tied to SIM registration, while business accounts need formal verification. Strict AML rules require monitoring for suspicious activity and reporting large transactions to prevent illicit financial flows.
Fraud Controls
Regulators mandate strong fraud controls, including systematic verification of merchants and transaction monitoring to combat scams. Providers use PINs for authorization, while the CBM imposes transaction limits and requires scrutiny of agents to protect the system's integrity and build trust.
Recordkeeping & Audits
Myanmar's AML framework requires financial institutions to maintain all account and transaction documents for at least five years post-account closure. This supports mandatory reporting obligations and prepares firms for on-site inspections by regulatory authorities to confirm compliance.
Lightning Network Integration as a Solution
The Lightning Network is a second-layer protocol built on Bitcoin that processes transactions off-chain for near-instant speed and minimal fees. While local RTP rails offer domestic speed, they often operate in closed ecosystems. The Lightning Network can act as a global bridge between these disparate systems, using Bitcoin as a universal settlement asset and creating a more connected international payment infrastructure.
While domestic RTPs offer instant settlement, the Lightning Network matches this speed with near-zero fees, often just fractions of a cent per transaction. Local rails like SEPA Instant are confined by geography, but the Lightning Network operates as a borderless system. Its fundamental advantage is its global accessibility, connecting economies without relying on traditional correspondent banking.
- Cross-Border Complexity: It bypasses the slow and costly correspondent banking system, offering direct, low-fee international payments without intermediaries.
- Scalability and High Fees: By moving transactions off-chain, it solves Bitcoin’s capacity limits, supporting millions of transactions per second at a fraction of the cost of on-chain transactions.
- Payment System Fragmentation: It provides a universal, open protocol that can connect otherwise isolated national RTP systems, creating a truly global network for value transfer.
Exploring its integration offers a path toward a more open and interconnected global financial system.
B2B Enterprise Use Cases
- Supplier Payments – Businesses can pay international suppliers instantly by routing payments over the Lightning Network, bypassing traditional banking delays.
Business value: Reduces cross-border transaction fees and settlement times from days to seconds. - Merchant Settlement – Retailers can receive customer payments directly and instantly, converting them from local currency to Bitcoin for immediate settlement.
Business value: Eliminates chargeback fraud and high processing fees from card networks. - Treasury Optimization – Corporate treasuries can move funds between international subsidiaries in real-time using Bitcoin as a bridge asset on the Lightning Network.
Business value: Improves capital efficiency and provides 24/7 liquidity management without bank operating hours. - Global Payroll – Companies can automate salary disbursements to a distributed workforce, sending micropayments or full salaries directly to employees' Lightning wallets.
Business value: Simplifies global payroll and gives employees immediate access to their earnings. - Streaming Micropayments – A company can charge for API calls or digital content on a per-use basis, with clients streaming tiny payments for data consumed.
Business value: Creates new revenue models by monetizing granular access to digital services.
Cross-Border Transactions and Remittances to Myanmar
Cross-border payments to Myanmar face significant friction. Reaching the country requires bridging disconnected payment rails and navigating opaque FX paths, often through informal channels. Political instability and a restrictive regulatory environment, including a complete ban on cryptocurrencies, create operational hurdles. As a result, systems like the trust-based Hundi network have become critical for moving money, acting as a substitute for the formal banking sector and highlighting the need for more efficient global connections.
- Thailand-Myanmar: This is a primary corridor for trade and remittances. Transactions often rely on informal value transfer systems to circumvent formal banking restrictions, allowing migrant workers to send earnings home and businesses to settle payments.
- Global-to-Myanmar (via MoneyGram): International remittances flow into Myanmar through global services like MoneyGram, which partners with local mobile money providers. This allows the diaspora to send funds from abroad directly to a recipient’s mobile wallet.
- China-Myanmar: As a key trade partner, this corridor is defined by high-volume business payments. Many transactions are settled through informal networks that bypass official channels, facilitating the cross-border movement of goods and capital.
The Lightning Network offers a direct alternative to these complex corridors. By using Bitcoin as a universal settlement asset, it bypasses traditional intermediaries, facilitating cross-border payments that are not only instant but also cost a fraction of what legacy systems charge.
How Lightspark Makes Integration Easy
Lightspark helps fintechs, digital banks, wallets, and exchanges integrate the Lightning Network with minimal friction. We manage the operational complexities, including node infrastructure, liquidity provisioning, and dynamic routing, so you can focus on your core product. Our platform provides robust developer tooling and a comprehensive compliance framework to support your global payment operations. With Lightspark, you can offer your customers sub-second settlement globally for cross-border transactions, opening new markets and revenue streams. Ready to build on the future of money? Talk to our team.
Sources and Further Reading
- https://www.frbsf.org/podcasts/pacific-exchanges/myanmar-mobile-payments-financial-inclusion/ – Podcast on Myanmar mobile payments.
- https://www.gatesfoundation.org/ideas/articles/digital-payments-financial-inclusion-mojaloop – Mojaloop for digital financial inclusion.
- https://www.gi-de.com/en/spotlight/financial-platforms/seizing-the-instant-payments-opportunity – Overview of instant payment opportunities.
- https://www.lightspark.com/contact – Contact form for Lightspark's team.
- https://www.lightspark.com/knowledge/how-the-lightning-network-is-transforming-bitcoin – Lightning Network's impact on Bitcoin.
- https://www.lightspark.com/knowledge/is-crypto-legal-in-myanmar – Legality of crypto in Myanmar.
- https://www.lightspark.com/news/insights/what-are-lightning-payments – Explanation of Lightning Network payments.
- https://payplusmyanmar.com/ – Myanmar's digital payment ecosystem operator.
- https://so05.tci-thaijo.org/index.php/cmruresearch/article/view/265145 – Research on the Hundi system.
- https://wavemoney.com.mm/ – Myanmar's Wave Money mobile finance.
