Japan Credit Bureau (JCB) signed a deal with Myanmar Payment Union (MPU) in Yangon on Thursday last week to launch its credit card in the country.
The agreement includes withdrawing cash from the automatic tellers machines (ATM) with JCB cards starting from September this year.
The signing ceremony of Master License Agreement for Acquiring Business in Myanmar between Myanmar Payment Union and JCB International Co Ltd was attended by the Japanese ambassador to Myanmar and U Maung Maung, director general of the Central Bank of Myanmar.
JCB card is being used by over 80 million users in more than 190 countries.
MPU was established in September 2011 by 17 domestic banks in Myanmar including three state-owned and 14 private banks. Since September 2012, MPU debit card was introduced for services domestically.
Earlier, MasterCard was introduced as the first international electronic payment card in Myanmar in November 2012, followed by Visa Card in December and China Union Payment (CUP) cards in February to facilitate foreign travellers in domestic payment.
Source: Myanmar Business Today