4 ways to boost e-commerce in Myanmar

e-Commerce industry growth will need banks and telcos to reduce service fees, provide better APIs, and simplify procedures to eliminate the hassle of payments Since 2012, foreign investors have been on a gold rush in Myanmar. GDP has climbed up steadily from US$58.68 billion in 2013, to US$64.33 billion in 2014, then US$64.87 billion in 2015. In July 2016, the new […]

MPU and KEB Hana Card sign MoU

THE Myanmar Payment Union (MPU) and South Korean KEB Hana Card signed a memorandum of understanding (MoU) to jointly conduct payment services in Myanmar. According to the MoU, MPU Card users will have access to the services of KEB Hana Card and South Korean businessmen will also receive the financial service from local banks. Members […]

Red Dot Payment raises series A round to bring payment solution to Myanmar

With ecommerce on the rise in Asia, it is only natural that payment solutions will soon follow suit in order to keep up. It therefore comes as no surprise that Red Dot Payment, a Singapore-based online payment processing company with a focus on Southeast Asia, has announced that they have secured series A funding “in […]

Yangon Online Delivers Amazon, eBay And Apple To Myanmar

The website of the Yangon Online Store resembles an early, very pared-down Amazon or eBay site. The familiar categories of merchandise for sale include books, electronics, computers, sports equipment, health & beauty, clothing, automotive, and Apple products. Look a little closer and you will notice that only a few items have prices listed and that […]

Myanmar’s emerging rich

As Myanmar’s economy steadily grows, a higher percentage of Yangon’s population are finding themselves with more cash to spend. Imported products from Thailand and Hong Kong can be seen on display in downtown shopping malls – something that would have been impossible two years ago as foreign goods were banned under the military junta. Big […]

Myanmar Payment Union Plans to Form Public Company

YANGON — Myanmar’s only card payment system, the Myanmar Payment Union (MPU), plans to become a public company before the end of this year, MPU general secretary Ye Min Oo said on Tuesday. Founded in 2011, MPU’s members include 18 local banks, three of which are state-owned. MPU set up the first ATM card payment […]

Ayeyarwady ATMs in Myanmar accept MasterCard, Maestro/Cirrus

Myanmar’s Ayeyarwady Bank has announced that its automated teller machines will accept cash withdrawals by customers using MasterCard and Maestro/Cirrus cards. This means more ease and convenience for the million visitors expected to converge on Myanmar during the 27th Southeast Asian Games to be held in Nay Pyi Taw from December 11-22. AYA Bank has […]

Myanmar makes progress in int’l payment card launching

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Myanmar launched Easi Travel Master Card Monday to facilitate its citizens traveling abroad in payment and the first ever event signified the progress of its banking industry. The Easi Travel Master Card was launched by the private-run Cooperative Bank (CB) with the cooperation […]

Myanmar-made VISA cards set for SEA Games debut

Consult-Myanmar welcome you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Privately owned Co-Operative Bank plans to manufacture and issue prepaid VISA cards in Myanmar ahead of December’s SEA Games, CB Administrative Managing Director Pe Myint told Mizzima yesterday. The cards will allow users to withdraw cash from ATMs in Euros, and US and […]

Mobile banking to make Myanmar debut at SEA Games

Consult-Myanmar welcomes you to the 27th SEA Games Myanmar, 11-22 Dec 2013 Most domestic banks will provide mobile banking services at the upcoming SEA Games’ venues as the Central Bank of Myanmar has given them the green light to do so, bank executives said. Mobile units will include currency-exchange counters and ATMs, they said, adding […]