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CBM raises annual credit card rates to 20pc

The Central Bank of Myanmar (CBM) has raised annual credit card interest rates to 20 percent from 13pc as it wants to control unsecured lending operations, an official from the CBM told The Myanmar Times. The CBM announced that banks can charge a maximum of 20pc in interest rates on credit cards on April 24. […]

Colliers Property Report – Myanmar Retail Quarterly Q4 2018

E-commerce and experiential retail growth potential promising Summary & Recommendations Myanmar can be considered a latecomer to the e-commerce wave, having experienced international isolation until 2011. While the country’s e-commerce future looks favourable, a huge amount of work from the government remains, particularly in improving the legislative framework, information and communications technology, and payment infrastructures. […]

Confident iflix aims high in Myanmar

Greenlee said in an exclusive interview that Myanmar’s leap in the telecommunications sector would fuel the firm’s growth in the nation. “It is the first time that subscription video on demand [SvoD] service is available in Myanmar. So, we have set a benchmark again. We expect to be highly successful,” she said. “Myanmar is the […]

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 […]