OK Dollar

Name

OK Dollar

Legal name

Internet Wallet Myanmar Limited

Website

https://okdollar.com

Company type

Private

Founded year

2016

Operating status

Operating

Headcount range

1,001–5,000 employees

Ownership category

akta.pro rank

Product category

Mobile Payments / Digital Wallet Services

NAICS

Financial Transactions Processing, Reserve, and Clearinghouse Activities (522320)

SIC

Finance Services (6199)

akta.pro primary industry

Mobile Wallets (NFC Tap-to-Pay / HCE) (FSAMAEAB)

akta.pro secondary industries

Cash-in/Cash-out Agent Network Wallets (FSAMAEAJ), Digital Wallet Infrastructure (Tokenization, Wallet-as-a-Service) (FSAMAEAI)

Keywords

• Mobile payment services
• Digital wallet platform
• Peer-to-peer money transfer
• Mobile airtime top-up
• Merchant QR payments

Headquarters

HQ city

Yangon

HQ country

Myanmar (Burma)

HQ region

Asia

Offices1 record

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Technology or R&D, Operations, Infrastructure, Marketing or Sales, Others

Revenue model

1. Transaction and Service Fees: OK Dollar charges service fees for various transactions. Agents may charge up to 5% for Cash In/Cash Out transactions. The company retains fees from payment processing and wallet services.
2. Merchant Services: Merchants pay for advanced account features, loyalty program management, and promotional tools. Merchants are required to use OK Dollar exclusively or give it equal/greater privileges compared to other payment services.
3. Mobile Top-up and Bill Payments: Revenue generated from mobile airtime recharges across all Myanmar operators (MPT, Ooredoo, Telenor, Mectel) and utility bill payments including electricity, DTH, and landline bills.

Pricing tiers

Go-to-market motion1 record

Distribution channels6 records

Marketing channels8 records

Core offering

OK Dollar (OK$) is a mobile payment and digital wallet platform that enables users in Myanmar to send and receive money peer-to-peer, recharge mobile airtime across all major telecom operators, pay utility and postpaid bills, and transact with merchants via QR code. The service is operated by Internet Wallet Myanmar Limited (IWML) under Central Bank of Myanmar authorization and is designed for the unbanked population, requiring only a mobile number to register. It is supported by an extensive physical agent and bank-partner network for cash-in/cash-out, biometric Face ID Pay authentication, multi-currency capability, and an offline SMS channel.

Product overview

OK$ (OK Dollar) is a mobile payment and stored-value e-wallet platform operated by Internet Wallet Myanmar Ltd., regulated by the Central Bank of Myanmar. The platform consists of a core mobile application providing peer-to-peer money transfers, merchant payments, mobile top-ups, and bill payment services, supplemented by travel booking (Go Auto Ticket) and online shopping (1 Stop Mart) modules. The system supports multiple account types including personal, merchant, advance merchant, and agent accounts, with biometric Face ID Pay authentication for secure transactions. Loyalty and rewards functionality (Bonus Points, Lucky Draw, Coupons) is managed through a separate merchant portal. The platform operates 24/7 across Myanmar with services accessible via mobile app, web portal, mobile browser, and offline SMS.

Differentiator

Problem solved

Functional benefit

Products and services

• OK$ Mobile Wallet App Core mobile application that enables Myanmar users to conduct peer-to-peer money transfers, merchant QR payments, mobile airtime top-up, bill payments, loyalty redemptions, and integrated value-added services such as travel booking and grocery shopping. Free to download and register with only a mobile number required.
• Peer-to-Peer Money Transfer (Pay / Send) Service that allows OK$ users to send money to any other registered wallet holder by mobile number, with transfers settling in under 6 seconds and 24/7 availability.
• Cash In / Cash Out Services Service that lets users load cash into their OK$ e-wallet and withdraw cash at authorized agents and partner bank branches, with agents authorized to charge up to 5% per transaction.
• Mobile Top-Up & Bill Payment Recharge and bill payment service that supports mobile airtime and data top-up across MPT, Ooredoo, Telenor, and Mectel (GSM and CDMA), plus payment of electricity, DTH, landline, postpaid, international top-up, and tax bills, with bill splitting among friends.
• Merchant Payment Services Subscription-based business account service that lets merchants accept QR-code payments from OK$ users, broadcast their location for discovery, disburse cash rebates, and access direct bank cashout. Advance Merchants can register up to 5 Safe Cashier sub-accounts.
• Loyalty & Rewards Program (Bonus Points, Lucky Draw, Coupons) Merchant-facing loyalty and promotional platform that allows participating merchants to issue bonus points, cashback, discount coupons, and run lucky draw campaigns that customers can redeem at participating outlets.
• Go Auto Ticket (Travel Booking) Integrated in-app travel services module that allows OK$ wallet users to book domestic and international flights, hotels, holiday packages, and bus and rail tickets, with payment made through the OK Dollar wallet.
• 1 Stop Mart Online Shopping Integrated in-app grocery and household shopping service from 1 Stop Mart, a Myanmar online supermarket with 20,000+ products including fresh produce, groceries, household essentials, organic products, and beauty items delivered to customers.
• Insurance Purchase Service Insurance purchase and management service available through the OK$ platform, allowing users to buy and manage insurance policies using their wallet balance.
• Donation Service Charitable donation service that allows OK$ wallet users to make contributions to supported causes directly from their wallet balance.
• Multi-Currency Wallet Transfers Cross-currency transfer service that enables OK$ accounts to send funds denominated in foreign currencies, with exchange rates set by merchants and processing handled by Internet Wallet Myanmar Limited.

Named customers10 records

Segments5 records

Ideal customer profiles3 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

AI capability1 record

Feature7 records

Partnerships

33 partnerships are on record, tiered core and minor.

• Go Auto TicketcoreStrategic or Co-development PartnerGo Auto Ticket is integrated into OK Dollar app as a travel services partner, offering domestic and international air ticketing, hotel bookings, holiday packages, bus and rail ticketing. Payment can be made through OK Dollar wallet.
• 1 Stop MartcoreStrategic or Co-development Partner1 Stop Mart Online Shopping is a Myanmar online supermarket with 20,000+ products integrated into OK Dollar. Users can shop for groceries, fresh produce, household essentials, organic products, beauty items, and gourmet food with delivery.
• CB BankcoreChannel Partner/ Reseller/ DistributorCB Bank provides cash-in and cash-out services to OK Dollar users at bank branches, enabling physical money movement to and from the digital wallet.
• 24/7 ZayminorOthersPartner app available through OK Dollar ecosystem, providing extended services to users.
• 24/7 SineminorOthersPartner app available through OK Dollar ecosystem for additional user services.
• SaleNLockminorOthersPartner application available for download through OK Dollar platform.
• Shwe Chin LayminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• 9to9minorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• PKminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• Pisces FashionminorOthersFashion retail merchant accepting OK Dollar payments, listed on partner page.
• MarmarminorOthersFashion retail merchant accepting OK Dollar payments, listed on partner page.
• ZPminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• PazontaungminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• PinkyminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• Mr TrendminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• FamilyminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• PSKminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• YuzanaminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• YaminminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• MotherhouseminorOthersFashion retail merchant accepting OK Dollar payments, listed on partner page.
• Puma MyanmarminorOthersSportswear brand accepting OK Dollar payments, listed on partner page.
• K MobileminorOthersMobile retail merchant accepting OK Dollar payments, listed on partner page.
• Mobile FoxminorOthersMobile retail merchant accepting OK Dollar payments, listed on partner page.
• TT Mini MartminorOthersConvenience store chain accepting OK Dollar payments, listed on partner page.
• MyA Zee KwayminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• ARR by Ae SeinminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• MyPizzaminorOthersPizza restaurant chain accepting OK Dollar payments, listed on partner page.
• Happy ChefminorOthersRestaurant chain accepting OK Dollar payments, listed on partner page.
• SunminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• AxeminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• CMartminorOthersRetail merchant accepting OK Dollar payments, listed on partner page.
• Sweet SofiaminorOthersBakery/retail merchant accepting OK Dollar payments, listed on partner page.
• City TicketsminorOthersTicket services merchant accepting OK Dollar payments, listed on partner page.

Scale indicators3 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• Wave Money: Wave Money is Myanmar's leading mobile wallet, jointly backed by Yoma Bank and Telenor. It offers P2P transfers, bill payments, merchant payments, and an extensive agent network. Direct competitor to OK Dollar in the Myanmar unbanked market with substantially larger scale and brand recognition.
• KBZPay: KBZPay is the mobile wallet of KBZ Bank, Myanmar's largest bank, offering P2P transfers, bill payments, merchant acceptance, and a vast agent network. Direct competitor to OK Dollar with the structural advantage of bank-grade trust and the largest customer base in Myanmar.
• MPT Money: MPT Money is the mobile wallet operated by Myanmar Posts and Telecommunications (MPT), one of Myanmar's largest carriers. It competes with OK Dollar in P2P transfers, top-up, and bill payments, leveraging MPT's telecom subscriber base for distribution.
• MyPay: MyPay is a Myanmar-based mobile wallet offering P2P transfers, merchant payments, and bill pay services targeting the unbanked. Direct peer with similar product scope, customer segment (unbanked individuals), and reliance on agent cash-in/cash-out networks.
• Ongo (formerly MyPay by Paytm): Ongo is a Myanmar-originated mobile payment platform (spun out of Paytm's Myanmar operation) offering wallet and merchant payment services. Direct peer with overlapping target customers and product functionality in the Myanmar market.

Regional players

• TrueMoney Myanmar: TrueMoney is a Southeast Asian mobile wallet operated by Ascend Money (Charoen Pokphand Group), with operations across Thailand, Myanmar, Cambodia, Vietnam, and Indonesia. Active in Myanmar with agent-based cash-in/out, comparable to OK Dollar's distribution model.
• GCash: GCash is the Philippines' leading mobile wallet operated by Mynt (Globe Telecom/Ant Group), serving tens of millions of users with P2P, bill payment, and merchant services. Comparable emerging-market wallet business model, though operates in a more developed digital ecosystem than Myanmar.

Emerging players

• bKash: bKash is Bangladesh's leading mobile financial services platform serving the unbanked with agent-based cash-in/out, P2P transfers, and merchant payments. Highly comparable business model, customer segment, and regulatory model to OK Dollar in a similar emerging Asian market context.

Broad incumbents

• M-Pesa (Vodafone/Safaricom): M-Pesa is the global pioneer of agent-based mobile money for the unbanked, originating in Kenya and now operating across multiple African and select Asian markets. Closest comparable to OK Dollar on business model (agent network, stored value, P2P) and customer segment (unbanked).
• Paytm: Paytm is India's largest mobile wallet and payments platform, originally focused on the unbanked and now spanning UPI, merchant payments, and financial services. Comparable on unbanked customer targeting, QR-based merchant acceptance, and bill payment aggregation, though at vastly greater scale.

Market position

Strengths4 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• Facebookfacebook.com/okdollarapp

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about OK Dollar