In the race for Myanmar’s extremely nascent tech world, there are folks like Squar building a social network, but there are also companies like 2C2P who are solving more systemic problems like online payment.
2C2P, as you may or may not remember, is an interesting e-payment gateway that allows e-commerce customers to pay for their products at a local convenience store and the service will ping the e-commerce site and deliver the item to the customer’s doorstep. The founder, Aung Kyaw Moe, a native Myanmarese, is finally bringing 2C2P to his home country. Being Myanmarese clearly gives him an edge on understanding the people and what the market needs. He originally started 2C2P in Thailand, where he grew it into a platform that millions of Thais use to pay for their online purchases.
Thus, 2C2P’s first step back home is to team up with the Myanmar Citizen’s Bank to bring 2C2P’s interim payment system to the nation. For a country where a large percentage of the 60 million citizens are largely unbanked, this represents a huge opportunity for 2C2P. It’s not clear yet how 2C2P’s solution will adapt to the largely informal market of Myanmar, but getting its foot in the door early is sure to concretize 2C2P in the long run.
(Editing by Steven Millward)