FAQs

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General

Do you need to open bank account to use uabpay?

No, can directly register with mobile phone number after downloading uabpay.

How to register for uabpay?

Download uabpay from app store for android and apple store for ios.
Provide your mobile number and fill the requested information. uabians and uabpay agents are happy to serve you when you need help for registration.

Is there any charges to use uabpay?

There is no charges, just download from Play Store and App Store then register and use it. It is totally free to use.

How do I contact uabpay for further help?

Everyone can reach out to us via

Social media platform
Phone number
Website
Branches & uab Agents when you need help.

uabpay Account

How can I reset the passcode if I forget my passcode?

Press “Forgot Passcode”
Answer securities question that you add your answer when you register full KYC.

How many user level in uabpay?

There are 2 account levels in uabpay.
Level 1 & 2 and they are different daily transaction rate.

What is low KYC account?

Low KYC account is the account that customer who do not register their detail information and not upload the NRC yet.
Low KYC account and Full KYC account are different daily transaction limit. Maximum daily transaction limit for low KYC is MMK.

What is full KYC account?

Full KYC account is the account that have been verified by verifying all of the needed identity or personal information. Maximum daily transaction amount is MMK.

How can I process to be level 2 user account?

Go to 'My Accounts'.

Upload pictures of your NRC and signature.
Provide your date of birth, residence address and email address.
You will receive a notification once your account has been verified.

Can uabpay login in two devices?

No, you can’t login uabpay in two devices.

Can uabpay be registered two accounts with the same mobile number?

One mobile number can be registered for one uabpay account.

(For security reasons, when you login to a new device, you will automatically be logged out of your old device. Only one device can be logged in at any given time.)

uabpay Win Gold Campaign

How to get chances to win gold?

You can get chances by inviting and referring friends.

If a user invites friends via uabpay app to make them sign up and register for uabpay, user will get one chance.
If invited friends are to become verified as full KYC, user will get 10 chances.
Invited friends who become full KYC users will also receive 10 chances.

How do you become a full KYC user?

You need to register with your full name, NRC/ Driving license front and back photos and face selfie photos in uabpay and when you are verified as Full KYC, you will receive 10 chances.

How do you know you are registered as full KYC?

You will get a notification in uabpay app that your KYC is approved.

How to get chances for your friends Full KYC registration?

Your invited friends need to add your number in “Referral Number” and once their registration is approved, you will receive the notification of your referral rewards.

What are the prizes of the Win Gold Campaign?

Monthly Prizes – 1 Yway for 10 winners

We will select 10 Winners and award them monthly with the prize of 1 Yway digital Gold Unit.

Quarterly Prizes – 1 Ticals for 3 winners

We will select 3 Winners and award them with the prize of 1 Tical digital Gold Unit every three months.
Even if the user was selected for monthly prize, he/she can win again for quarterly prize.
The users need to have chances and participating every month to be included for quarterly prize and grand final awards.

Grand Final Prize – 10 Ticals for 1 Winner

We will select Grand Prize Winner and award with 1 Tical digital Gold unit and the Final Winner should be the one who collected the Highest Chances accumulation over the campaign of the entire year.
The chances do not expire and need to be collected throughout the year to be able to participate for the Grand Final.

How can you check your chances?

Users can check how many chances they have in uabpay app display feature.

How many friends can you invite at one time?

One user can invite only one friend at a time.

Why did you not receive the chances even if your invited friends register?

If your invited friends KYC is rejected, you will not receive all chances and only if they are approved as full KYC, you may receive all 10 chances.

What is digital gold?

uabpay’s Gold Investment is a Myanmar’s first Gold Trading Investment platform where you can invest, buy, and sell gold with digital payment. You may receive the winning prizes in digital gold form in your gold investment feature of uabpay.

When can you redeem the digital gold prize?

Once you have one tical in uabpay gold investment digital gold, you can redeem at the registered gold shops in uabpay.

How to redeem the digital gold prize?

For Gold Redeem,

Open uabpay app and navigate to the Gold Investment Feature.
Click the Gold Balance and go to Redeem under My Gold Profile.
Go to redeem gold bar and select the types of gold you would like to redeem. You must have minimum of 1 tical for BaThan gold bar and minimum of 10 tical for Academy gold bar.
After checking and confirming Terms & Conditions, select Redeem Request button.
The gold shop will approve the pending request within hours and which you can see in Pending transactions tab.
Once the redeem is confirmed, you can either call the gold shop or use the uabpay maps to find the nearest Shwe Bon Tha shop to redeem.
When you arrive, please click the Generate QR button and show the QR code or the Reference ID displayed on the Notification page.
After the Gold Shop scans the QR code, you may receive an OTP (One Time Password) that you can use to withdraw the Physical Gold Bar.
After withdrawing the physical gold at Gold Shop, you will see the redeem completed screen in your uabpay app and you can check your gold balance in My Gold Profile.

If you do not have 1 tical to redeem, how can you sell the gold prize back?

For Gold Selling,

Open uabpay app and navigate to the Gold Investment Feature.
Go to the Gold dashboard and select ‘Sell’.
Select from the amount of gold you want to sell back, starting with one Yway.
Select the payment method.
Check Terms & Conditions, then click and “Sell” if you agree.
Click the Confirm button to confirm the gold selling and wait for a few moments to avoid the user accidentally clicking buy and sell until they receive the success transaction mail from the Gold Shop side.

Gold Investment Feature

How do I buy Gold from uabpay?

For Gold buying,

Open uabpay app and navigate to the Gold Investment Feature.
Go to the Gold dashboard and select ‘Buy’.
Select the amount of gold you would like to buy, starting with one Yway.
Select the payment method.
Check Terms & Conditions, then click and “Buy” if you agree.

How do I sell Gold from uabpay?

For Gold Selling,

Open uabpay app and navigate to the Gold Investment Feature.
Go to the Gold dashboard and select ‘Sell’.
Select from the amount of gold you want to sell back, starting with one Yway.
Select the payment method.
Check Terms & Conditions, then click and “Sell” if you agree.
Click the Confirm button to confirm the gold selling and wait for a few moments to avoid the user accidentally clicking buy and sell until they receive the success transaction mail from the Gold Shop side.

How do I redeem physical gold once it is one Tical?

For Gold Redeem,

Open uabpay app and navigate to the Gold Investment Feature.
Click the Gold Balance and go to Redeem under My Gold Profile.
Go to redeem gold bar and select the types of gold you would like to redeem. You must have minimum of 1 tical for BaThan gold bar and minimum of 10 tical for Academy gold bar.
After checking and confirming Terms & Conditions, select Redeem Request button.
The gold shop will approve the pending request within hours and which you can see in Pending transactions tab.
Once the redeem is confirmed, you can either call the gold shop or use the uabpay maps to find the nearest Shwe Bon Tha shop to redeem.
When you arrive, please click the Generate QR button and show the QR code or the Reference ID displayed on the Notification page.
After the Gold Shop scans the QR code, you may receive an OTP (One Time Password) that you can use to withdraw the Physical Gold Bar.
After withdrawing the physical gold at Gold Shop, you will see the redeem completed screen in your uabpay app and you can check your gold balance in My Gold Profile.

Which is the partner gold shop and where do we redeem the physical gold?

We have partnered with the Shwe Bon Thar gold group, and physical gold can only be redeemed at Shwe Bon Thar gold shops in Yangon and Mandalay that are registered in the uabpay app.

What are handling fees % when we buy gold?

The additional amount is charged to cover the handling fees of the gold shop and is paid when you buy Gold and refunded when you sell Gold. You can confirm the Buy/Sell price in uabpay app by checking the final price, including the handling fee.

What brand of gold do we get from the gold shop?

You can redeem Ba Than gold for one tical, and Academy for ten ticals from our gold partner shop, Shwe Bon Tha Gold Shop.

Is the gold price same as outside market price?

Our gold prices are in line with the current market rates, and you can track the daily, weekly, and monthly fluctuations on our gold dashboard in the uabpay app.

Do we need to pay more charges if we redeem physical gold?

No charges nor fees will be required when you redeem physical gold.

Do I need to complete Full KYC to invest in Gold in uabpay app?

The user account must be Full KYC, which means it must be registered with all relevant information. This feature is available only to Full KYC users.

Where can I check the gold price?

You can see the current market price in uabpay app, gold investment graph.

Is there a minimum transaction amount to buy gold?

The minimum transaction amount is one yway of gold.

Is there a maximum transaction amount to buy gold?

As the wallet limit is 100 lakhs per day, the maximum transaction amount per day would be 100 lakhs.

Are there any fees for Gold Certificates?

No. You can get gold certificate as free of charge for the purchase of Gold you buy.

What are some of the risks investing in Gold products?

Some of the risks in gold products are as below and buyers must understand that:

The gold market can be volatile and subject to both downward and upward price changes
Losses can incur from the investment including the loss of your principal investment
Investment in gold provides no dividend yield or interest payments
Over the period of your investment, prices would have to rise sufficiently to yield a profit on sale