TrueMoney, a leading financial services company operating across Southeast Asian countries including Thailand, Cambodia, Myanmar, Malaysia, Indonesia, Vietnam, and the Philippines, has proudly celebrated its 10th anniversary in Myanmar. Founded in 2014, TrueMoney Myanmar has played a key role in delivering trusted and accessible digital financial services to underbanked communities. With a network of more than 24,000 agents nationwide, TrueMoney Myanmar has continued to expand its reach, delivering essential financial services to communities across the country, with a particular focus on the roughly 84 percent of Myanmar that remains underserved by traditional banking.
Marking a decade of service, TrueMoney Myanmar is reflecting on its journey of growth, resilience, and community impact. Backed by its nationwide agent network and strategic partnerships, TrueMoney has transformed Myanmar’s financial landscape, giving millions of people access to essential financial services once out of reach due to the limitations of traditional banking.
A Decade of Achievement and Innovation
Since its founding, TrueMoney has been at the forefront of delivering secure and accessible financial services to both urban and rural communities. Through digital payments and innovative money transfer services, TrueMoney has transformed how people in Myanmar manage their finances. With a focus on reaching underbanked communities, TrueMoney now serves over 12.7 million customers, playing a critical role in providing accessible and affordable financial services to all.
Over the past decade, TrueMoney Myanmar has reached numerous milestones that highlight its commitment to accessible financial services. The company now covers 84 percent of the country and serves over 9 million customers. TrueMoney Myanmar’s network of more than 24,000 agents has made it possible to deliver essential financial services even to remote areas. The company has also partnered with 76 businesses to broaden the scope of its services. In international remittances, TrueMoney has become an essential resource for Myanmar migrant workers in Thailand, providing free remittance services back to Myanmar for over 20 percent of that population. In 2024 alone, these remittances totaled 107 billion kyats, underscoring the company’s important role in supporting both domestic and international financial needs.
Frandara Khuon, CEO for Cambodia and Myanmar at TrueMoney, said, “We’re incredibly proud of how far TrueMoney has come over the past ten years. Our commitment to our users and business partners has driven both innovation and growth, and has allowed us to expand access to financial services across Myanmar. The upcoming Malaysia-Myanmar remittance service is another step forward in our goal of providing financial access to Myanmar nationals abroad. Our collaboration with Myanma Apex Bank (MAB) has also helped us find new ways to extend financial services to more communities and create positive impact. Looking back, the key to our success has been our customers, partners, and agents, and we want to once again express our deep gratitude for their unwavering support. We hope to continue this journey together and shape a future of accessible financial services for everyone.”
Strong Partnerships for a Brighter Future
The long-term partnership between TrueMoney and Myanma Apex Bank (MAB) has played a key role in delivering accessible financial services across Myanmar. Together, they have worked to ensure that underbanked communities can access secure financial services, effectively bridging the gap between traditional banking and the digital economy.
U Kyaw Nyi Khin, CEO of MAB Bank, said, “Our partnership with TrueMoney Myanmar is crucial in delivering accessible financial services to everyone. Through our collaboration, we will continue working to ensure communities benefit and every individual has access to secure financial services.”
A Commitment to Customers and Agents
TrueMoney’s commitment to its customers and agents remains steadfast. In recent years, the company has continued expanding its agent network across Myanmar, bringing financial services to even remote regions. TrueMoney Myanmar will also continue providing the tools and support that agents and users need to thrive in the digital economy.
Mr. Tanyapong Thamavaranukupt, Chairman of TrueMoney Myanmar, said, “Our main goal is to provide financial services that benefit communities. We take pride in staying at the forefront of financial technology innovation and continuously developing ways to meet the evolving needs of our users. Looking back over the past ten years, we also want to thank our valued customers, partner companies, agents, and our dedicated employees for their unwavering hard work. Their support has been essential to our success, and I’m excited for us to keep working together toward the same goals and continued growth in the years ahead.”
TrueMoney’s Vision for the Future
As TrueMoney enters its second decade, the company remains committed to continuing to lead Myanmar’s digital transformation in the fintech space. With a strong focus on innovation, TrueMoney is also planning to introduce new products and services aimed at expanding financial access in Myanmar’s rural and underbanked areas and meeting users’ evolving needs.
“Our vision is to continue leading Myanmar’s fintech landscape with a customer-first approach. We’re excited to explore new opportunities, invest in technology, and deepen our partnerships to help build a future of accessible financial services for everyone,” said Frandara Khuon, CEO for Cambodia and Myanmar at TrueMoney.