Wave Money



As part of the GSMA’s Connected Women Commitment Initiative, Wave Money has committed to increase the proportion of women in their Mobile Money customer base in Myanmar.

Since launch, Wave Money has grown an agent network over 49,000 agents across all 14 states of Myanmar, covering over 89% of the country. There are Wave shops in 293 out of the total 330 townships, covering 85% of rural Myanmar. In comparison to the traditional bank branch and ATM networks of approximately 2,100 and 3,300 respectively, the Wave Money agent network is the largest financial services network in the country.

While traditional banks open five days a week from 9am until 3pm, Wave shops are open every day from early until late. For most people, it is not possible to go to the bank during the day, but thanks to Mobile Money and Wave shops, customers can send and receive money at a time that is convenient for them.

Customers appreciate having financial services available at their local mom n pop shops. Most agents are known by their customers which has contributed significantly to the uptake of Mobile Money. Customers feel comfortable asking questions about the service and do not feel intimidated by a large institutional brand. Instead, Wave agents give Mobile Money a friendly, familiar face.

Shwe Toe – Financial Education Gamification App
Wave Money and The United Nations Capital Development Fund (UNCDF), with support from the Australian Department of Foreign Affairs and Trade (DFAT), runs Shwe Toe, a unique financial education mobile app aimed at increasing financial literacy for women in Myanmar. This app aims to contribute to the achievement of Myanmar’s Financial Inclusion goals.