Monday, 25 February 2013 12:29 Mizzima News
A ceremony was held in Yangon on Saturday to officially launch China UnionPay (CUP) card services in Myanmar, news agency Xinhua reported.
CUP is the largest issued bank card in China and is widely accepted around the world. Its services in Myanmar are to be tied to all banks affiliated with Myanmar Payment Union (MPU), which has 17 members, among them: Myanmar Citizen Bank, Myawaddy Bank, Myanmar Oriental Bank, Kanbawza Bank, Cooperative Bank, Asian Green Development Bank, and Myanmar Apex Bank.
The governor of the Central Bank of Myanmar, Than Nyein, and the chief resident representative of CUP (Southeast Asia Region), Yang Wenhui, delivered speeches at the launching ceremony, saying that the introduction of CUP services in Myanmar has “opened a new page of cooperation between CUP and MPU,” Xinhua reported.
Users of the CUP can now withdraw Myanmar kyat from the ATMs of MPU member banks and make payments at its points-of-sale as well as at relevant hotels.
At present, there are 198 ATMs and 465 points-of-sale within the MPU member bank network.
The Chinese bank card scheme follows hot on the heels of other international electronic payment cards in Myanmar, including MasterCard in November and VISA in December. JCB of Japan has also entered the Myanmar market.
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CUP is the largest issued bank card in China and is widely accepted around the world. Its services in Myanmar are to be tied to all banks affiliated with Myanmar Payment Union (MPU), which has 17 members, among them: Myanmar Citizen Bank, Myawaddy Bank, Myanmar Oriental Bank, Kanbawza Bank, Cooperative Bank, Asian Green Development Bank, and Myanmar Apex Bank.
The governor of the Central Bank of Myanmar, Than Nyein, and the chief resident representative of CUP (Southeast Asia Region), Yang Wenhui, delivered speeches at the launching ceremony, saying that the introduction of CUP services in Myanmar has “opened a new page of cooperation between CUP and MPU,” Xinhua reported.
Users of the CUP can now withdraw Myanmar kyat from the ATMs of MPU member banks and make payments at its points-of-sale as well as at relevant hotels.
At present, there are 198 ATMs and 465 points-of-sale within the MPU member bank network.
The Chinese bank card scheme follows hot on the heels of other international electronic payment cards in Myanmar, including MasterCard in November and VISA in December. JCB of Japan has also entered the Myanmar market.
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