KBZPay
KBZ Bank
KBZPay
KBZ Bank
Back to Hall of Fame
In October 2018, KBZ Bank announced the launch of KBZPay, a digital wallet phone application, which makes purchasing everyday products and managing funds more convenient and secure. Within a few months of launching, KBZPay, the mobile application enabled customers to:
- Send and receive money to friends and family with the swipe of a finger.
- Make purchases at your favourite shops and restaurants through QR Code stickers, instead of using expensive POS terminals or physical plastic cards.
- Withdraw physical cash through a network of agents across the country, who enable customers to conveniently cash-in and cashout whenever they require more liquidity.
- Pay for bills such as utilities broadband services, loan repayment, tuition fees.
- Purchase everyday essentials including airtime top-ups, bus tickets, and gaming tokens.
“KBZPay, improving the quality of life in Myanmar through deepening financial inclusion and bringing greater connectivity to millions.”
Highlights
KBZ Bank recognised that technology alone was not enough to achieve our mission for achieving 100% financial inclusion in Myanmar. In a country with limited digital infrastructure, KYC measures and digital literacy needed to be embedded in every step of the way, introducing mobile services at a pace that is right for people in Myanmar. To address this, the bank put in place a radically new approach to banking by turning our 18,000 employees into an on-the-ground force for financial inclusion. It developed a sophisticated mapping of customers, merchants, and agents and tasked branch teams with onboarding customers, agents, and merchants on the KBZPay network in their townships and wider communities. With this approach, employees had the critical opportunity to meet with customers, merchants, and small businesses face-to-face, ensuring that millions in Myanmar are well-equipped to use digital financial services safely and securely.
View Website
Highlights
KBZ Bank recognised that technology alone was not enough to achieve our mission for achieving 100% financial inclusion in Myanmar. In a country with limited digital infrastructure, KYC measures and digital literacy needed to be embedded in every step of the way, introducing mobile services at a pace that is right for people in Myanmar. To address this, the bank put in place a radically new approach to banking by turning our 18,000 employees into an on-the-ground force for financial inclusion. It developed a sophisticated mapping of customers, merchants, and agents and tasked branch teams with onboarding customers, agents, and merchants on the KBZPay network in their townships and wider communities. With this approach, employees had the critical opportunity to meet with customers, merchants, and small businesses face-to-face, ensuring that millions in Myanmar are well-equipped to use digital financial services safely and securely.
View Website
Back to Hall of Fame
In October 2018, KBZ Bank announced the launch of KBZPay, a digital wallet phone application, which makes purchasing everyday products and managing funds more convenient and secure. Within a few months of launching, KBZPay, the mobile application enabled customers to:
- Send and receive money to friends and family with the swipe of a finger.
- Make purchases at your favourite shops and restaurants through QR Code stickers, instead of using expensive POS terminals or physical plastic cards.
- Withdraw physical cash through a network of agents across the country, who enable customers to conveniently cash-in and cashout whenever they require more liquidity.
- Pay for bills such as utilities broadband services, loan repayment, tuition fees.
- Purchase everyday essentials including airtime top-ups, bus tickets, and gaming tokens.
Highlights
KBZ Bank recognised that technology alone was not enough to achieve our mission for achieving 100% financial inclusion in Myanmar. In a country with limited digital infrastructure, KYC measures and digital literacy needed to be embedded in every step of the way, introducing mobile services at a pace that is right for people in Myanmar. To address this, the bank put in place a radically new approach to banking by turning our 18,000 employees into an on-the-ground force for financial inclusion. It developed a sophisticated mapping of customers, merchants, and agents and tasked branch teams with onboarding customers, agents, and merchants on the KBZPay network in their townships and wider communities. With this approach, employees had the critical opportunity to meet with customers, merchants, and small businesses face-to-face, ensuring that millions in Myanmar are well-equipped to use digital financial services safely and securely.
“KBZPay, improving the quality of life in Myanmar through deepening financial inclusion and bringing greater connectivity to millions.”
View Website
View Website