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MPU cards, Visa and MasterCard credit cards to be enabled under YPS

Bank account holders will be able to use their ATM cards as prepaid cards under the Yangon Payment Services (YPS) scheme, said Yangon Chief Minister U Phyo Min Thein. The Yangon Regional Government is currently in the process of awarding the contract to implement YPS to one of two companies: Anypay Payment Services or Asia […]

Closing the global and national digital divide

In the last couple of decades, the “digital divide” was narrowly defined by people’s access to the internet. Myanmar, of course, had very poor internet connections as recently as six years ago. In 2012, this country’s internet penetration was a mere eight percent of the population. In 2018, with four mobile phone operators in a […]

In Myanmar, buying cars and homes with gunny sacks full of cash

Banks have even received deposits of S$10 million in bills, in a country where most still prefer cash in hand over credit. But could mobile wallets change all that? YANGON: At banks in Myanmar, it’s not unusual to see people lugging huge and heavy gunny sacks into the lobby. Once inside, they’ll split open the […]

Vietjet Offers Promotional Fares for Yangon-HCMC Flights

Vietnamese low cost carrier Vietjet said it is selling tickets at special prices for its newest route linking Yangon to Ho Chi Minh City in Vietnam. The sale will go on from 11:30 to 13:30 (Myanmar time) everyday from July 24 to July 29. The carrier said that “lucky tickets” will be available from $0 […]

Growth for digital cash

Central Bank officials are urging more commercial banks to take up electronic banking. A number of institutions including Co-operative, Ayeyarwady, Innwa and Myawaddy have formally launched banking via computers or mobiles so far in 2014, and more banks should do the same, said a senior Central Bank of Myanmar official. Rules governing bank-led mobile banking […]