We are happy to let you know that Fortumo has launched in Myanmar. Merchants can now collect payments from an additional 14 million consumers and we now cover 92 countries in total. Reaching 100 countries as the first carrier billing provider in the industry is not that far away.
Myanmar has only recently opened up to the outside world and recently SIM card costs were reduced a thousand (!) times. Since then, mobile ownership has been growing very rapidly and thanks to cheap smartphone availability, consumers are skipping feature phones and taking into use modern devices. An estimated 96.5% of people using mobile internet are doing it from their smartphones, according to OnDeviceResearch estimates.
While it’s difficult to get accurate data on the market as it is changing extremely quickly, here are some of the key facts you need to know about Myanmar:
- Population: 51.5 million
- Average age: 27.9 years
- GDP per capita (IMF 2014 estimate): $4,752
- Fortumo coverage - 13.9 million consumers (50% of the mobile subscriber base)
- Mobile penetration - 54%
- Credit & debit card penetration (World Bank 2014): 0% / 2%
Ready to add Myanmar to your payment services? Head over to the Fortumo Dashboard where you can switch the new country on immediately.