Fintech & payments regulation in Myanmar (2026)
Fintech and digital payments in Myanmar: partial.
Myanmar has a functioning but limited licensing regime for mobile financial services and payment card issuers under the Central Bank of Myanmar (CBM), anchored in the Financial Institutions Law (2016) and the 2016 MFS Regulations. The CBM operates the CBM-NET payments infrastructure and officially launched the national QR interoperability standard MyanmarPay (MMQR) in February 2025. However, no dedicated comprehensive Payment Services Law, open-banking framework, or BNPL rules exist, and the post-2021 military coup has severely constrained the sector with key state banks sanctioned and the CBM operating under junta control.
Legal framework
Financial Institutions Law 2016 (Sections 132 & 184); Mobile Financial Services Regulation 2016; National Payments System Strategy 2020-2025, all administered by the Central Bank of Myanmar (CBM)
Key points: digital payments & fintech in Myanmar
MFS Licensing Regime
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.
CBM-NET Payment Infrastructure
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.
MyanmarPay MMQR Launch (Feb 2025)
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.
Digital Payment Limit Update (June 2024)
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.
Junta Control, Sanctions & Operational Constraints
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.
No Open Banking or BNPL Framework; CBDC in Planning
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.
Sources
- cbm.gov.mm/content/national-payment-system-myanmar
- cbm.gov.mm/content/licensed-mobile-financial-service-providers
- servicetrade.gov.mm/service/regulation-detail/regulations-on-mobile-financial-service
- cbm.gov.mm/content/5774
- dfdl.com/insights/legal-and-tax-updates/myanmar-the-central-bank-of-myanmar-up
- allenandgledhill.com/mm/publication/articles/28428/central-bank-of-updates-digital-payment
- usip.org/publications/2024/07/how-myanmars-central-bank-facilitates-juntas-opp
- lowyinstitute.org/the-interpreter/myanmar-s-other-war-battle-financial-control
- cbm.gov.mm/content/9442
- innovationlibrary.com/articles/myanmar-introduces-myanmarpay
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Next topicOrientation, not legal advice: verify against the primary sources linked above. Last verified 24 May 2026. Methodology & how to cite · State of Technology Regulation 2026