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At least five more years needed for Myanmar to go cashless

Myanmar’s cash dependent economy has become a burden on the government’s coffers in recent years and a widespread adoption of an electronic payment system in the country is needed. Yet, experts say it could take a minimum of five more years for society to go cashless. “It costs the government money to print cash and […]

E-Payment Services to Come Online in February

RANGOON — Burma’s sole domestic card-based payment system, Myanmar Payment Union (MPU), will offer online services beginning in early February, according to an executive. Chief Executive Officer of MPU, Zaw Lin Htut, told The Irrawaddy that local cardholders will soon be able to make online purchases after companies enroll with one of the firm’s 20 […]