Press Statement: New Animated Short Series to prepare Myanmar for digital financial services
Social enterprise ONOW and Visa invest in storytelling and short messaging as key to leveraging Myanmar’s smartphone revolution for leap to e-money.
Yangon, Myanmar, January 16, 2019 — ONOW Myanmar has partnered with Visa and USAID to break new ground in combining financial education and entertainment to introduce Myanmar consumers to the benefits of digital financial services (DFS).
Monthly Animated Episodes
The series of eight animated shorts, called “Lu Mite Nae Ngwe Ah Tu Ma Nay” (Fools and their money soon part), is featured in ONOW’s financial health chatbot “Maung Sa Yin Kaing”, which has been used by 35,000 people to learn financial management and entrepreneurship. New episodes will be released every month through June 2019 on m.me/MrFinanceBot.
Used by Leading Financial Institutions
After viewing, users are connected to websites of the world’s leader in digital payments, Visa and Myanmar’s top financial institutions A Bank, Yoma Bank and Wave Money to learn more about different options for DFS, including existing financial products, mobile money, digital payments, and other formal financial services.
Through the shorts and chatbot, viewers learn foundation concepts of:
- Phone-based wallets and mobile money
- Keeping PINs and Passwords private
- Ease of using points of sale and Internet purchases
- Sending money to friends and family easily by e-money
- Security of saving money in formal financial institutions
https://www.dropbox.com/s/xdne2wsxoqzc8lz/MSYKAn2Flow.mp4?dl=0
ONOW and Visa
ONOW Co-founder and CEO Matt Wallace said,
“We’re excited to work with USAID and Visa to launch this entertaining series, which builds digital literacy capacity while re-establishing trust in financial institutions in the digital world. It’s an avenue for Myanmar’s DFS providers to invest in literacy that is directly connected to converting quality customers. Financial education doesn’t have to be secondary, because there is a business case for it.”
Arturo Planell, Country Manager for Visa Myanmar said:
“We’re excited to be supporting ONOW on the animated series to help increase knowledge on financial products and services for Myanmar consumers. It is our belief that as more companies introduce new products and services, consumers must be provided with adequate fundamental financial skills that will enable them to make responsible choices. In addition, this partnership is testament to how Visa is keen to collaborate with local fintech community, finance industry and the authorities on programs that will help enable Myanmar consumers to manage their finance for long-term benefit.”
The series, animated by digital artist studio Joosk, creator of the popular Panzagar campaign, will release a new episode every month through June 2019. ONOW and Visa hope to point to clear evidence that financial education based in creative storytelling, and combined with friendly messaging, has the power to drive users to become more effective clients of DFS.
https://www.dropbox.com/s/ri2lvp00ml3gyqe/2019-01%20Animation2%2030s%20video.mp4?dl=0
Organization Support Provided By:
This product is made possible by the generous support of the American people through the United States Agency for International Development (USAID). The contents are the responsibility of ONOW Myanmar Co. Ltd. and do not necessarily reflect the views of USAID or the United States Government.
ONOW Myanmar is a social enterprise focused on helping Myanmar’s entrepreneurs launch their businesses and manage their finances. ONOW launched in 2012 and the team of 22 people has trained more than 600 students in business startup and management, and has launched more than 350 businesses through their training and financing platform, and has delivered financial literacy to more than 35,000 through the popular Mr.Finance platform, a product of the ONOW Development Lab.
Visa Inc. (NYSE: V) is the world’s leader in digital payments. Our mission is to connect the world through the most innovative, reliable and secure payment network — enabling individuals, businesses and economies to thrive. Our advanced global processing network, VisaNet, provides secure and reliable payments around the world, and is capable of handling more than 65,000 transaction messages a second. The company’s relentless focus on innovation is a catalyst for the rapid growth of connected commerce on any device, and a driving force behind the dream of a cashless future for everyone, everywhere. As the world moves from analog to digital, Visa is applying our brand, products, people, network and scale to reshape the future of commerce.
