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Thai firm eyes Myanmar vending machine boom

May 23. 2019
Yongyut Wongteerasoot
Yongyut Wongteerasoot
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By The Nation

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XIT Service Co, owned by Thai investors, recently launched top-up vending machines in Myanmar targeting revenue Bt100 million in the first year of operation.

Yongyut Wongteerasoot, the executive director, said early this week in Yangon that his company plans to install 20,000 mobile phone credit vending machines in Myanmar in the next few years. 

Customers of Telenor, Ooredo, Mytel, MPT and 2C2P could use the machines to pay for their mobile bills, he added. 

He said the company has 2C2P, a mobile phone operator, as its business partner and will work with several government agencies in Myanmar. The vending machine services include utility bill payments, he said.

Myanmar consumers preferred prepaid system as they spend on average Bt150 per month compared with Thai consumers Bt240.

With 54 million population and GDP growth around 6-7 per cent, the mobile phone market in Myanmar has increased rapidly, he said. The company plans to install 100 vending machines in the first month.

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