TrueMoney Myanmar, a subsidiary of Ascend Money, has teamed up with AYA Pay Mobile Wallet, operated by AYA Bank, to offer a new remittance service.
The service is designed to facilitate “cost-free” money transfers from Thailand to Myanmar.
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For making the transfers, customers can send money from a TrueMoney Wallet in Thailand to an AYA Pay Wallet in Myanmar.
Additionally, the recipients in Myanmar will not incur any charges when cashing out the funds, the company stated in a press release.
TrueMoney Myanmar country managing director Ko Tun Tun Linn said: “At TrueMoney Myanmar, we are committed to leveraging fintech innovation improve financial inclusion and convenience for our customers.
“This partnership with AYA Pay ensures that hardworking Myanmar nationals in Thailand can support their loved ones back home without worrying about high fees or complicated processes. Together, we are making cross-border remittances faster, safer, and more affordable.”
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By GlobalDataAYA Bank CEO Jasmine Thazin Aung stated: “At the heart of this partnership is our customers/users – the mothers, the students, the elderly parents across Myanmar- waiting for a transfer that means more than just money.
“By integrating AYA Pay with TrueMoney’s cross-border platform, we are not just enabling transactions; we are enabling trust, speed, and peace of mind. This is not just digital transformation – it’s human transformation through technology.”
In a separate development in Thailand’s payments industry last month, Worldpay enhanced its operations by adding domestic acquiring capabilities in the country.
