TrueMoney goes international, targeting Myanmar
Local mobile payment companies are gearing up to extend their payment services overseas after the Bank of Thailand eased foreign exchange rules. The central bank in March eased the regulations to allow companies that hold payment licences under the law regulating e-payment to act as international money transfer agents to provide services through electronic channels such as websites and mobile phone apps. The bank has capped overseas money transfers at 200,000 baht per day per person. TrueMoney, the e-money arm of Ascend Group, a subsidiary of True Corporation, is moving to expand into international mobile payment services through money transfers, targeting Myanmar migrant workers.
