Myanmar’s Easy Microfinance has rolled out a digital repayment channel. Meanwhile, Russian on-demand ride-hailing firm inDriver has forayed into Vietnam and has lined up aggressive expansion plans in the country.
Easy Microfinance rolls out digital repayment channel
Easy Microfinance, a Myanmar microfinance institution backed by Meridian Capital Limited and Delta Capital, has rolled out a digital repayment channel through Ongo, a digital payment service provider in Myanmar, per an announcement.
It has also announced donations to support the COVID-19 relief efforts in the country. Easy Microfinance donated five million kyat ($3,800) to national and regional government committees and hospitals to support the distribution of Personal Protective Equipment (PPE) and testing supplies in its fight against the COVID-19 pandemic.
With the launch of the digital repayment platform, Easy Microfinance clients now can repay their loans at any Ongo agent location or even online through the Ongo app.
“The new collaboration with Ongo will provide an easy and convenient repayment method which is in line with what we have developed with Easy Microfinance,” said Askar Alshinbayev, principal and founding partner of Meridian Capital Limited, a primary and founding shareholder in Easy Microfinance.
Easy Microfinance is licensed by the Financial Regulatory Department of the Ministry of Planning and Finance of the Union of Myanmar.
Russian on-demand ride service firm inDriver enters Vietnam
Russian on-demand ride service firm inDriver has forayed into Vietnam as it plans to expand its operations in the Southeast Asian market.
The company currently has more than 260 car drivers and 300 motorbike drivers in the central coastal province of Thua Thien Hue. It expanded last month to Can Tho in the south and the northern port city of Hai Phong.
The ride-hailing firm said customers can negotiate the amounts they have to pay and that marks as the key differentiator for the company. Customers can, in fact, choose drivers based on criteria such as estimated arrival time and vehicle model.
The Vietnamese ride-hailing market is anticipated to register a CAGR of about 16.81 per cent between 2020 and 2025, according to the Reportlinker.com.
Some of the players in the ride-hailing market in Vietnam include Grab, Gojek, BE Group JSC, FastGo, MyGo, and Vato. Grab currently enjoys more than 70 per cent of the ride-hailing market in the country.