MPU Card reaches 1.8 million users

THE number of MPU credit card users has reached 1.8 million people in Myanmar. The Myanmar Payment Union credit card can be used to make direct payments from a Myanmar bank account. “Electronic bill payment systems appear more often in the financial matters of local enterprises and can contribute to economic development,” said U Zaw […]

Myanmar businesses slow to adapt to improvements in Internet

Our study of the Myanmar industry shows that Myanmar businesses are still lagging behind in the use of Internet technology. We studied 72 audit/accounting firms and 44 law firms in Yangon and were flabbergasted to find that 93% and 68% respectively do not have websites and 70% of them are still using Gmail. Our study […]

KBZ Eyes Niche Market with Credit Card

Local lender KBZ Bank has launched Myanmar’s first credit card recently, eyeing to tap into big businesses and high-income individuals’ needs for credit card in the country. Launched late last month, there were 500 applicants at the beginning, which has grown in its first week to 600, according to KBZ officials. U Nyo Myint, managing […]

KBZ with first domestic credit cards in a decade

KBZ is set to issue the first true credit cards in over a decade, as the bank claims the Central Bank of Myanmar has given its permission to begin the service, according to a press release yesterday. Credit cards can be used across the country at ATM machines and restaurants with point of sale terminals. […]

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. […]

Visa focus on Myanmar as Thailand slow down

Visa International (Thailand) estimates single-digit percentage growth in spending through its cards here this year compared with double-digit growth over the past few years, said Somboon Krobteeranon, country manager for Thailand and Myanmar. Visa card spending in other Asean countries in 2014 is expected to expand at a double-digit pace, he said. Southeast Asia’s second-largest […]

Firms line up for Myanmar opportunity

By Jaspal Bindral (group executive director and CEO Asia, Standard Chartered) As senior decision-makers from around the globe descended on Myanmar’s capital of Naypyidaw for the World Economic Forum on East Asia recently, multinational companies were lining up to explore the huge commercial opportunities in the country. At Standard Chartered, we’re seeing strong, and growing, […]

VISA expand presence in Myanmar through three banks

VISA card holders will soon be able to use the cards for making payments at point-of-sale terminals at Kanbawza Bank, Cooperative Bank and Myanmar Apex Bank, Visa said. VISA card holders will soon be able to use the cards for making payments at point-of-sale terminals at Kanbawza Bank, Cooperative Bank and Myanmar Apex Bank, Visa […]