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 […]

Myanmar Payment Union to Upgrade ATM Card System

RANGOON — The Myanmar Payment Union (MPU) signed with Vietnamese telecom multinational FPT and the National Payment Corporation of Vietnam (NAPAS) on Sunday to initiate a financial switching system, Zaw Lin Htut, chief executive officer of the MPU, told The Irrawaddy. As MPU’s partners, FPT and NAPAS will—starting this year—help facilitate a system upgrade for ATM […]

Vietnamese firm FPT to help build payment system for Myanmar

YANGON – FPT Corp has been selected as the main investor of Myanmar’s national financial switching system. Under the memorandum of understanding signed between the group and the Myanmar Payment Union (MPU) on July 31, FPT Information System (FPT IS) – a member of the FPT Corporation – will start developing the financial switching system […]

JCB to open Yangon Branch

CB International is cooperating with Myanmar Payment Union banks to issue JCB cards by the end of 2016 or as soon as next year, according to a press release from the group. As well  as this partnership JCB is establishing a branch in Yangon under the subsidiary JCB International (Thailand) Co. Ltd. JCB will be […]

Myanmar’s first electronic bill payment solution launched

2C2P a leading Southeast Asian (SEA) payment services provider, and Myanmar Payment Union (MPU), the national payment network of the Republic of the Union of Myanmar, have launched Myanmar’s first electronic bill payment solution, easyBills according to a media release on 9 June. 2C2P and MPU are providing a non-cash payment option for prepaid phone […]

Three CityMart Outlets to Accept MPU Cards

Three of Yangon’s 20 CityMart outlets will now accept payment through Myanmar Payment Union (MPU) cards. The three outlets are Myaynigone, Junction Square and 8-mile CityMarts. Daw May Zin Soe Htet, marketing director of City Mart, said, “We have accepted this payment system to provide better service for the customers. MPU card users are now […]

Southeast Asian Payments Provider 2C2P Raises $7 Million From Amun Capital and Japan’s GMO Venture

2C2P, a leading Southeast Asian payment services provider, has landed $7 million in Series C funding from Hong Kong’s Amun Capital and Japan’s GMO Venture Partners. That brings total funding for the 12-year-old company to $10 million. 2C2P will use the funds to make senior hires and to expand its “cards, cash and cash equivalent […]

MPU, JCB Ink Licence Agreement for EMV Debit Cards in Myanmar

Myanmar Payment Union (MPU) and JCB International Co, a subsidiary of Japanese credit card company JCB Co Ltd, have signed a licensing deal to issue JCB cards in Myanmar, the firms said. With this agreement, MPU member banks in Myanmar will be able to issue MPU/JCB co-branded cards linking to their customers’ saving bank accounts. […]

2C2P and MPU launch Myanmar’s first e-commerce payments platform

2C2P, a leading Southeast Asian payment services company, and Myanmar Payment Union (MPU), the national payment network of the Republic of the Union of Myanmar, have developed and implemented Myanmar’s first electronic commerce payments platform. MPU card holders can now – for the first time – search, select and directly pay for online purchases. There […]

Ecommerce services for payment to start

Local consumers are increasingly taking to the web to make a deal, yet paying for products is still a major headache. While services like US-based PayPal and China’s AliPay are making it easy for seamless e-commerce around the world, Myanmar is still a cash-based society, with few of the solutions that has helped drive online […]