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 69 ATMs and more than 52 branches across the country.

“While we are a local bank, we subscribe to global best practices, and we are especially proud to be partners with a global payments expert such as MasterCard to offer ATM cash withdrawals to some of the 2 billion MasterCard and Maestro/Cirrus cardholders worldwide for whenever they travel to Myanmar,” said Phyo Aung, managing director of AYA Bank.

“As we continue to invest significantly in training and technology, we hope to be able to expand our offerings for our customers in partnership with MasterCard in the near future.”

Antonio Corro, MasterCard country manager for Thailand and Myanmar, said: “As we stop to take stock of the past year, we are really proud of the achievements we have charted in Myanmar; from our first ATM cash withdrawal to our first POS [point of sale] acceptance to most significantly our first prepaid travel card.

“Indeed it has been a great year of milestones, and we’re hoping that next year will bring even bigger and better successes as we continue to work closely with our esteemed partners to develop the local payments landscape.”

Currently more than 350 ATMs in Myanmar accept MasterCard and Maestro/Cirrus cards. Meanwhile, MasterCard is accepted for payments at more than 500 restaurants, retail outlets and hotels in that country, ahead of the expected year-end target reported earlier this year, after the roll-out of POS terminals in March.

In October, the country witnessed the launch of its first prepaid card made available to Myanmar residents for when they travel outside of the country.

As of November 20, MasterCard had nine partners in Myanmar (eight financial institutions and one finance company): Co-Operative Bank; Kanbawza Bank; United Amara Bank; Myanma Apex Bank; Myanmar Citizens Bank; Myanmar Oriental Bank; AYA Bank; Asia Green Development Bank; and Ryuji Finance Company.

Asia Green also recently announced its ATMs would accept MasterCard.

Source: ELEVEN Myanmar

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Dagon City", “MOGE”, “yangon stock exchange”,"MECTEL", "hydropower", etc.

To learn about the business opportunities in Myanmar click here

To evaluate the various segments of the market that you could possibly enter base on your competencies you can do a Custom Market Entry Strategy Research. You can see a sample report at page "Actual Sample of Client Report”. Click here to go to page.

Do you know that IE Singapore is giving up to SGD 20,000 support for Singapore company to venture into Myanmar? To learn more click here