Launching Ceremony of MMQR: Prime Minister attends the ceremony in Nay Pyi Taw

Launching Ceremony of MMQR which is the National QR Standard for Myanmar’s digital payment system was held at the Myanmar International Convention Centre-1 in Nay Pyi Taw with the attendance by Chairman of the State Administration Council Prime Minister Senior General Min Aung Hlaing on Thursday.

First, the Prime Minister inaugurated the ceremony by pressing the button. In his speech, the Prime Minister stated that as the Central Bank of Myanmar is the main responsible organization for the development of the country’s payment systems, it is making efforts in developing the payment system in Myanmar in conformity with the changing trend of age and the international standards,

The Prime Minister urged all to make cooperative efforts for advancement of the country’s financial sector to support the state economy. Then, the Governor of the Central Bank of Myanmar explained about the MMQR. This was followed by screening of a video clip on the developing process of Myanmar’s digital payment system, work processes and advantages of MMQR.

After that, the Governor of the Central Bank of Myanmar presented the commemorative gift to the Prime Minister.

Then, the Prime Minister and party toured round the displayed booths. MMQR which is the National QR Standard for Myanmar’s digital payment system was implemented to address the need of a prompt network system among the mobile financial services from different banking institutions. Through the use of MMQR, public can enjoy the smooth and easy access of cash transfers on different payment systems. The introduction of MMQR aims to provide secure and fast money transferring process in daily basis, while increasing public participation in the country’s financial system.

It also encourages the use of digital payments within the country in order to reduce cash usage and to provide smooth process in trading, investments, tourism and foreign remittance processes. MMQR can be used for various economic sectors such as paying government taxes, bills, salaries, pensions, small scale businesses, gas stations, hospitals, school fees and purchasing goods.