Is Google Pay accepted in Myanmar?

06 Sep 2024 By PAYCEC

This article seeks to inform travelers and inhabitants of Myanmar about Google Pay, with the occasion of the constant expansion of the use of digital means of payment around the globe. Google Pay is an easy, safe, and seamless service for making payments without contact, purchasing goods and services through the internet, and transferring money to friends and relatives. However, the situation in the case of Myanmar is quite different, which is discussed in the following paragraphs. “Is Google Pay in Myanmar available”?

The current pace of digital payments in Myanmar

Myanmar's financial system, on the other hand, is still in its early stages of implementing modern-day digital payment options. The country has been through many economic and structural issues, making the general population reluctant to embrace digital wallets or contactless payments such as Google Pay. Myanmar's banking business is steadily changing, although most individuals, particularly those in villages, prefer cash transactions.

There are few possibilities for using Google Pay in Myanmar right now. It is important to note that most SMBs have Google Pay integration, and most do not accept Google Pay as a means of payment. This is especially so given the low level of investment and adoption of technologies such as contactless payments due to their low awareness among the populace. Consequently, using Google Pay in Myanmar for financial operations can hardly be considered a viable solution.

Types of Payments that are Used Often in Myanmar

Concerning the payment system, cash has been the most frequently used form of payment across Myanmar, especially in the rural and less developed areas. However, urban areas such as Yangon and Mandalay, experienced a slow and steady progression of electronic payment systems through local and international reforms.

• 1. Credit and Debit Cards: Shopping centers and most of the hotels, as well as restaurants and other assets that receive a large volume of customers, accept major credit and debit cards like Visa and Mastercard. Their use is, however, preceding in many locations, and it is still advisable to have cash on you at all times.
• 2. Mobile Payment Solutions: Recently, there have been some mobile payment local platforms established; they mainly target local users. Some existing mobile wallet applications to transfer money and make payments within Myanmar are Wave Money, KBZ Pay, and OK Dollar. These platforms have grown bigger and busier, especially with the increase in smartphone and internet usage across the globe.
• 3. Bank Transfers: Another traditional method of carrying out transactions is through the use of bankers’ drafts, which is preferred where large amounts of money are involved. However, this is time-consuming and cannot be utilized for regular procurement.
• 4. Cash: Due to the low adoption of the electronic payment system, it is compulsory to use money, especially the Myanmar Kyat (MMK), frequently.

As much as Google Pay in Myanmar may not be available now, there are other solutions that you can use to make the payment. In the same regard, PayCEC presents a complete package that is effective and can be used in many ways. Multiple currency integration and an integrated payment processing feature make PayCEC a perfect payment solution for domestic and cross-border transactions.

If you choose PayCEC, you will avoid risks associated with making payments on various platforms while being guaranteed that your transactions are safe and effective. Whether you are doing business in Myanmar or are planning to travel to the country, you will benefit from the level of flexibility provided by PayCEC, meaning that regardless of the type of payment method available, you will not be restricted.

The fact that you can go live with PayCEC is that it offers you the possibility of having an international payment gateway solution in areas where other services are inaccessible. Take this opportunity and become a PayCEC member now and ensure you have one of the most convenient and global payment systems for users of Myanmar and the whole world.