The firm is currently working in Myanmar as a mobile top-up service provider for Myanmar Post and Telecommunications (MPT) and MEC since September 2015.
In Myanmar, the money transfer service will be through True Corporation Plc, a subsidiary of the CP Group.
True Money Myanmar Company Limited has already recruited agents around the country to enable easy access to banks.
“We want to help people who are not able to reach banks easily. For people who have to go to another township to use the bank,” said Amara, assistant marketing manager of True Money Myanmar Company Limited.
The firm is also aiming to expand to other payment services like bill payments and international remittance.
The money transfer service is looking at the possibility of offering safe and easy remittance facility for the Myanmar population working in south east Asian countries.
True Money Myanmar is targeting the retail customers for the money transfer business. It is also in talks with Aeon credit service and Gold Bus online booking company for future partnerships.
True Corporation Plc also operates internet services operator, data centres and pay TV business.