that it can be an incentive for Myanmar nationals to hold a bank account. (B) Delay in systemization of FIs Concerning the status of introduction of the CBS in FIs, it is known that there are significant differences between major banks, foreign banks, state-owned, semiprivate, municipal, small, and medium-sized banks. When looking to sophisticate the payment systems throughout Myanmar, it is not sufficient to merely strengthen the function of CBM-NET, which is a node, but FIs as nodes also need to proceed with systemization properly. However, only about half of the domestic banks were able to introduce CBSs that connect the head office and branch offices online, in particular, most of the state-owned banks (state-owned, semi-private, municipal banks) cannot make the system online. For example, Yadanarbon Bank managed by Mandalay City uses an old-fashioned system built by its employees, but customers cannot deposit or withdraw money at other branches because the head office and branches are not connected online, and account information is maintained by each office separately. Since the above-mentioned state-owned banks and small and medium-sized banks do not have sufficient investment capacity, it is still uncertain when to introduce an online CBS. Another trend is the penetration of Mobile Payment Service Provider (MPSP). MPSP indicates a mobile payment service provider that follows in the wake of so-called FinTech, and Wave Money, which is a joint venture with Telenor, a mobile phone company, is a typical example in Myanmar. In Myanmar, where the penetration rate of smartphones is high, individuals can transfer money between individuals through Wave Money without having a bank account if you have a smartphone and a dedicated application. Personal accounts are associated with telephone numbers in the form of mobile accounts, and transfer is made by designating the telephone number of the transferee on the dedicated application. The mobile account balance can be used for the top-up of mobile phones and the payment of some utilities. You can also deposit or withdraw from the account via agents (such as mom and pop store). This movement seems to be beneficial as part of the financial inclusion in Myanmar where the bank account penetration has not progressed. Although the CBM regulates the upper limits of the transfer amount and the balance, (Mobile Financial Services Regulation), more convenient, innovative financial services can partially erode the banking business. For FIs that cannot keep up with these innovations, especially for the above-mentioned state-owned banks and small and 5