Vodafone plans to bring the M-Pesa mobile payments technology to Myanmar if it wins a bid to operate a mobile network in the South East Asian country.
As it opens up to the outside world after years of isolation, Myanmar recently invited telcos to bid for two mobile telecommunications licences in a country where the handset penetration is below 10%.
Earlier this week, the government announced a short-list of 12 contenders, including a joint bid from Vodafone and China Mobile.
According to the Financial Times, if it secures a license Vodafone intends to roll out a mobile money service based on M-Pesa, the system first launched in Kenya with huge success and now making its way to other developing countries.
Vodafone would be entering a market where only in the last few month have Visa and MasterCard have begun working with local banks to build the country's ATM and point-of-sale networks.
Nick Read, CEO, Africa, Middle East and Asia Pacific, Vodafone, told the FT that mobile money would be important for the country "given a banking sector that is under-developed".
Vodafone eyes M-Pesa launch in SE Asia - FT