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QR code payment system set to launch this year

The Central Bank of Myanmar is set to implement a standardised national payment system by this year, says CBM Vice Governor U Bo Bo Nge. Daw Than Than Swe, director general of the CBM’s Financial Institutions Regulation Department, said to the Myanmar Times that the system will cover international payments, mobile wallets and all mobile […]

Yoma Strategic Holdings Ltd’s Latest Chairman Letter: 3 Things Investors Should Know About Its Growth Opportunities

Yoma Strategic Holdings Ltd (SGX: Z59) is a conglomerate that focuses on Myanmar. It has business interests in a wide variety of sectors in the country, such as real estate development, agriculture, tourism, vehicle distribution, and food and beverage retail. In Yoma Strategic’s latest annual report for its fiscal year ended 31 March 2017 (FY2017), […]

Yoma JCB holds official launch ceremony in Yangon

Yoma Strategic Holdings Ltd. announced that its wholly-owned subsidiary, Convenience Prosperity Company Limited (CPCL), held its official launch ceremony for its JCB heavy equipment products in Yangon on 17 May. CPCL is the exclusive distributor for JCB construction equipment in Myanmar and started operations in January 2017. The official launch ceremony held at Pun Hlaing […]

Cards to Adopt EMV to Meet ASEAN Standard

​​ The Central Bank of Myanmar has required local banks to upgrade the card payment technology, as a step toward integrating the payment system with the ASEAN region. Daw Than Than Swe, the director general of the Central Bank, told the Myanmar Times that all the payment cards issued by local banks will have to […]

Central Bank Plans Level Playing Field for Foreign Payment Firms

​​ CB Bank and KBZ have both partnered with Visa following the Central Bank’s decision to allow foreign payment firms to operate independently in Myanmar. But the Central Bank has clarified that this is a select response to requests from four specific firms, not an official shift in policy. Visa and KBZ issued a joint […]

4 ways to boost e-commerce in Myanmar

e-Commerce industry growth will need banks and telcos to reduce service fees, provide better APIs, and simplify procedures to eliminate the hassle of payments Since 2012, foreign investors have been on a gold rush in Myanmar. GDP has climbed up steadily from US$58.68 billion in 2013, to US$64.33 billion in 2014, then US$64.87 billion in 2015. In July 2016, the new […]

Yoma to Distribute JCB Construction and Heavy Equipment in Myanmar

Singapore-based Yoma Strategic Holdings Ltd’s full subsidiary, Convenience Prosperity Company Limited, has been appointed by J C Bamford Excavators Limited (JCB) as the exclusive distributor for the Myanmar market. Founded in 1945, UK-based JCB is the world’s third largest manufacturer of construction equipment by volume with 22 manufacturing plants worldwide. JCB sells its products in […]

Plastic chips away at cash’s dominance in Myanmar

YANGON — Credit cards are gaining traction in Myanmar, where cash has long been king, with foreign players such as China UnionPay and Japan’s JCB lured by rising consumer incomes and an increasingly robust financial infrastructure. JCB, in conjunction with Myanmar Payment Union and Ayeyarwady Bank, also known as Aya Bank, debuted a credit card Tuesday […]

AYA BANK launches the First Universal JCB-MPU co-brand cards

AYA Bank launched the first JCB credit and debit card as AYA Universal MPU-JCB Co-Brand cards in Myanmar yesterday, becoming the first in the country to issue Japanese JCB credit and debit cards. The Ayeyarwady Bank, also known as AYA Bank, is issuing the “AYA Universal MPU-JCB Co-Brand Card” combining the Myanmar Payment Union-MPU brand […]

JCB to open Yangon Branch

CB International is cooperating with Myanmar Payment Union banks to issue JCB cards by the end of 2016 or as soon as next year, according to a press release from the group. As well  as this partnership JCB is establishing a branch in Yangon under the subsidiary JCB International (Thailand) Co. Ltd. JCB will be […]