General information

Population

54.5M

Online population

24.1M

Currency

MMK

Market overview

Population - 54.5M

At the start of 2024, 32.3% of Myanmar’s population lived in urban centres, while 67.7% lived in rural areas.

Internet penetration - 44%

There were 24.1M internet users in Myanmar at the start of 2024.

FinTech Outlook: Trends, Insight & Technology

Myanmar’s FinTech startups scene is expanding, with digital and card transactions reaching 1.5B and a total value of $3.8B in 2022, according to Thant Mam Hein, assistant manager of sustainability at uab bank. Regional investors are also keen on Myanmar’s FinTech startup market. For example, Ant Group invested $73.5M in Wave Money in 2021 to expand digital payment networks and accelerate adoption.

Key players in the FinTech market include companies like Onepay, Ongo, and Modus Operandi, which are all working to increase financial inclusion through various digital platforms

Banks

As of 2024, Myanmar has 7 state-owned banks, 25 private-sector banks, and 14 overseas bank branch offices.

Digital banks