Fintech & digital payments rules in Myanmar (2026)

The CBM issues Mobile Financial Service (MFS) licenses to both Mobile Network Operators and non-bank financial institutions under Sections 132 and 184 of the Financial Institutions Law 2016, requiring separate company registration and minimum paid-up capital of MMK 3 billion; a list of licensed providers is published on the CBM website.

The national CBM-NET system provides the payments backbone: Real-Time Gross Settlement (RTGS) for large-value transfers, Automated Clearing House (ACH) for retail payments, and a Digital Payment Switch for QR-based transactions; all licensed banks and MFS providers must connect to CBM-NET.

The CBM officially launched MyanmarPay (MMQR) on 27 February 2025 as a unified national QR code payment standard operated by PayPlus, consolidating banks and MFS providers on one interoperable platform that was first implemented in 2022.

On 12 June 2024 the CBM revised transaction caps: P2P transfers are limited to MMK 1 million per transaction and MMK 5 million per day; non-compliance triggers administrative penalties under Section 154 of the Financial Institutions Law including fines, operational restrictions, and suspension.

Since the February 2021 coup the CBM operates under junta direction; Myanmar Foreign Trade Bank and Myanmar Investment and Commercial Bank are under US sanctions. A July 2024 USIP analysis documents the CBM being used for financial surveillance of political opposition, severely constraining the broader fintech operating environment.

Myanmar has no open banking mandate or BNPL-specific regulation. In 2025 the CBM established a Central Committee for the Issuance of a Central Bank Digital Currency (digital kyat), signalling intent toward a CBDC but no enacted legislation yet; no open banking API standards have been published.