OnePay

OnePay

Mobile wallet and cashless payments platform

Overview

OnePay is a Yangon fintech offering a unified digital wallet and lifestyle app for consumers and merchants in Myanmar. The wallet supports interbank transfers, mobile top-ups, utility payments, shopping, food orders, and travel bookings, and can be funded via AGD Bank accounts, other banks, Visa/Mastercard, or cash-in via TrueMoney agents. Registration only needs a smartphone and SIM card, so unbanked users can access digital payments without a bank account. Its goal is to grow a broad cashless payments ecosystem in Myanmar by increasing user adoption and merchant participation.

About OnePay

Simplify's Rating
Why OnePay is rated
C
Rated B on Competitive Edge
Rated C on Growth Potential
Rated D+ on Differentiation

Industries

Consumer Software

Fintech

Financial Services

Company Size

51-200

Company Stage

Seed

Total Funding

$410K

Headquarters

Yangon, Myanmar

Founded

2019

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Simplify's Take

What believers are saying

  • OnePay reported 7,800-plus QR merchants in 2024, supporting network effects.
  • Its 2025 support for MPU, Visa, Mastercard, and TrueMoney expands deposit access.
  • Myanmar's cashless shift rewards interoperable wallets, and OnePay already leads interbank transfers.

What critics are saying

  • CBM's August 2026 location and IP restrictions choke cross-border usage and remittances.
  • Myanmar's junta-controlled payments regime and sanctions on banks can freeze settlement access quickly.
  • OnePay's 2025 fee sheet shows capped or unavailable transfers, signaling weak monetization; competitors commoditize wallets.

What makes OnePay unique

  • AGD Bank backing gives OnePay bank rails and trust in Myanmar, since 2023.
  • OnePay runs Myanmar's interbank wallet network across 16 banks, per 2025 documents.
  • Its app bundles QR merchant payments, bills, top-ups, travel, and agent cash-in.

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Funding

Total Funding

$410k

Below

Industry Average

Funded Over

1 Rounds

Seed funding is usually the first official round after pre-seed, when a startup has a prototype or concept. It’s typically used to develop the product, test the market, and start building the team. Investors here are often angel investors or early-stage venture capitalists.
Seed Funding Comparison
Below Average

Industry standards

$3.3M
$410k
OnePay
$1.5M
Slack
$2M
Netflix
$2.3M
Instacart
$3M
Robinhood

Benefits

Stock Options

Health Insurance

Disability Insurance

Life Insurance

Mental Health Support

Wellness Program

Hybrid Work Options

Paid Vacation

Paid Sick Leave

Paid Holidays

401(k) Retirement Plan

401(k) Company Match

Remote Work Options

Flexible Work Hours

Growth & Insights

Headcount

6 month growth

0%

1 year growth

-2%

2 year growth

0%

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