Wave Money will cooperate with Myanma Economic Bank (MEB) for retired civil servants
to be able to withdraw their pensions easily.

“We have brought this service for retired civil servants who worked tirelessly for the country. With our service, they can withdraw their pensions easily. This partnership will facilitate the pension giving process of the country,” said chief executive offi cer Mr Brad Jones of Wave Money.

Retired civil servants can takeout their pension easily at 41,000 agents of Wave Money across the country.

“Though retirees are not familiar with mobile technology, it will be easier for them to use when they know the benefi ts of mobile financial service,” said managing director U Yin Zaw Myo of Myanma Economic Bank.

Currently, pension is given to retirees with E-pension card system. On average, they have to wait for around three hours to get their pensions, which is not convenient for elderly persons.

Wave Money is the fi rst mobile financial services provider to receive a licence from the Central Bank of Myanmar in October 2016 under its Mobile Financial Services Regulation, allowing it offer simple and reliable mobile financial services to consumers in the country.

Wave Money, a joint venture between telecom operator Telenor and Yoma Bank today reportedly serves more than one million customers.