Wave Money and METRO Partner for Fast and Secure Digital Payment
METRO customers can now purchase online orders using Wave Pay’s QR feature
Yangon, 2 October 2019 – Wave Money, Myanmar’s leading mobile financial service provider and METRO Wholesale Myanmar, a leading food service distribution business, have announced a partnership to digitize the food supply chain in Myanmar. The partnership with METRO is part of Wave Money’s commitment to improve the digital eco-system by making cashless payment more convenient to both consumers and enterprises. Using the QR feature in the WavePay app, METRO customers can now pay easily and securely, while easing cash management for METRO.
Wave Money and METRO Wholesale Myanmar today signed a Memorandum of Understanding to seal their partnership, reinforcing their commitment to create a seamless and satisfying experience to their valued customers. Representing the two parties at the signing held at the Wave Money office are Mr. Prasoon Singha, Deputy CEO and CFO of Wave Money, and Mr. Ivan Aleksandrov, CFO of METRO.
“As part of our commitment to increase financial inclusion provide a fairer future for people in Myanmar, Wave Money is delighted to be partnering with METRO to support efforts towards delivering higher quality of life with cashless payment option for customers,” said Brad Jones, CEO of Wave Money.
METRO customers can easily settle payment through WavePay by scanning the unique QR code on their invoices. The new option is a convenient cashless payment that is also more secure compared to the traditional method of cash-on-delivery.
“Cashless payment system has become the most efficient and effective payment system due to its reliability and convenience. Through this partnership, we aim to enable a fast and secure digital payment system to deliver better quality food to all METRO customers wherever they are with our network of over 50,000 agents in Myanmar,” said Prasoon Sinha, Deputy CEO and CFO of Wave Money.
Established in Myanmar in 2017, METRO Wholesales Myanmar is an e-commerce platform providing food items nationwide to over 400 customers. The company is part of METRO, a leading international specialist in wholesale and food retail, with operations in 36 countries and more than 150,000 people worldwide.
“Our new partnership with Wave Money is an integral part of METRO’s B2B strategy in Myanmar to provide a more convenient, intuitive and digital experience to METRO’s customers. Furthermore it will support the transformation towards cashless payments and will also contribute with efficiency improvements for our payment processes, “said Ivan Alesandrov, CFO of METRO Wholesale Myanmar.
Online shopping is gaining popularity due to the rise of online shopping platforms, digital payment system and changing lifestyle. The new culture has spread not only in major cities like Yangon and Mandalay but also in other cities in the country.
WavePay is a digital payment mobile application which serves as the leading e-wallet in Myanmar. It provides purchasing products online and managing funds in the easier and safer way through the mobile phone.