Ongo Mobile Money for low income people (borrower); Ongo and SVS join for repayment service
Digital cash payment service provider Ongo combines with micro finance company SVS creating Ongo Mobile Money for the rural people to repay easily. The Ongo Mobile Money will start its services on 25th July 2019.
Social Vision Services (SVS) was established in 2008 with the purpose to help losses of delta regions of Myanmar due to the Cyclone Nargis. The SVS expands its primary activities of emergency aid functions throughout the whole country and accelerates its activities in the long run. The SVS gained its registration for micro finance company in 2013. It’s currently providing micro loans services in Wun Twin Township, Mandalay Region for more than 8000 women. It is providing loan services to the women from the rural areas who have family economic difficulties intending them to be able to support their families by investing in works rather than agriculture. The SVS provides loans for both agricultures and non-agriculture businesses.
Photo Source – https://www.ongo.com.mm
Ongo Mobile Money service can be used easily which aims to promote guarantees for the physiological needs and farmers from rural and women who do not own a land to enter into the market and doing businesses.
“It is very good that the activities of Social Vision Services which aims to promote the capacity of women who took the loans. We are very satisfied working together with the SVS that the money borrowers who are very hardworking with their hands full so that they will be able to repay the doubts easily and effectively,” said the CEO of Ongo Allen Gilstrap.
Photo Source – https://www.facebook.com/svs.lngo/
SVS’s leading director Daw Khin Thet Maw said: “The SVS carried out for the rehabilitation activities of natural catastrophe in last ten years including emergency drinking water, health and hygienic materials, professional emergency aids and metal supports for the victims of disasters. Our micro finance business provided aids for poverty reduction and helped rural people to run own businesses in recent years. Working together with Ongo is a good example of our services which promotes well-beings of Myanmar nationals combining with other’s capacities and know-how.”
Photo Source – https://www.facebook.com/ongoemoney/
The SVS service users can repay the loans either via the Ongo representatives or Ongo app. Ongo mobile wallet was firstly introduced officially in 2017 with the cooperation of Myanmar Oriental Bank. Ongo mobile wallet accounts are controlled by Central Bank of Myanmar, through the MOB, by mobile banking license (MBL).
The SVS was established in 2008 after the cyclone Nargis hit. Its first objective was providing emergency humanity activities for the people in Delta region where disaster hit area.
For more information about the payment system running combined by the Ongo and SVS (or) other sophisticated digital payment services provided by Ongo, please visit the official website
https://www.ongo.com.mm or the Facebook page https://facebook.com/ongoemoney or contact to info@ongo.asia and Phone 09450888996, 09444450816
