Myanmar gets its first contactless travel prepaid card

MASTERCARD in collaboration with Co-operative Bank (CB Bank) have launched a contactless travel prepaid card for Myanmar’s citizens, the first of its kind in the nation, in an effort to better tap on the country’s enlarging traveller base.

 

The CB EasiTravel Prepaid MasterCard Contactless card is currently available for signup and provides Burmese travellers a cashless option when transacting at any merchant in the world that supports contactless card payment.

 

Myanmar has long been a cash-based economy with its citizens largely avoiding the use of plastic forms of payment. Banks have been trying hard to enter the market however, with four foreign banks having been issued preliminary approval to operate in Myanmar earlier this month.

 

“More Myanmar citizens are making trips to neighboring countries than ever before, buoyed by recent relaxing of entry visa restrictions. This trend will continue as the economy grows and gains traction,” commented U Kyaw Lynn, CEO and vice chairman, CB Bank, on the partnership.

 

“CB Bank is always looking for ways that will bring convenience to Myanmar travelers and the newly issued MasterCard Contactless card will give added convenience when making payments internationally.”

 

MasterCard collaborated with CB Bank to launch Myanmar’s first travel prepaid card in 2013.

Source: T T G Asia

 

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