AWARD YEAR
2021
CATEGORY
Work
GOALS
Innovative Financial System
KEYWORDS
Mobile banking, banking
COUNTRY
Myanmar
DESIGNED BY
KBZ Bank
WEBSITE
https://www.kbzpay.com/en/
KBZPay
A mobile wallet platform based in Myanmar
KBZPay is Myanmar’s fastest growing mobile wallet application, backed by KBZ Bank. With simple, safe technology, KBZPay enables people to store, transfer and spend money straight from their smartphone. KBZPay strives for nationwide financial inclusion by connecting friends, families, businesses and communities across Myanmar, bringing them into the digital economy and enabling a quantum leap towards a digital lifestyle. KBZPay prides itself on being aligned with international standards and to this end, mandates a rigorous KYC process for all customers and partners. The KYC process for KBZPay is fully digital, meaning document verification and biometric ID checks are carried out using facial recognition entirely by smartphone. This makes it possible for KBZPay Customers to be digitally on-boarded anywhere, at any time by a member of KBZPay staff.