Yangon Payment System launched

Yangon Bus Service (YBS) launched their new electronic payment system on its buses last week, with 5,387 cards being sold within two days of the launch – an Asia Star Mar Transport Intelligent Company representative said. “Most travelers received their cards for free, if they purchased the card with K5,000 worth of credit. We expect […]

CBM mulls new system of bank payments in Myanmar-China trade

The Central Bank of Myanmar (CBM) has said it will allow traders to make payments through banks for conducting trading activities with China. The CBM will allow the payment facility beginning this year, and plans to grant permits to private banks to offer the facility. Under the new service, individual traders will be able to […]

The country that’s ‘high risk, high return’ for start-ups

After decades of dictatorship and international sanctions, Myanmar (formerly called Burma) is now home to a small but fast-growing tech start-up scene, offering everything from home-cooked food deliveries to comic apps. But the country is still considered too risky by many big international investors. Dressed in a traditional Burmese longhi and a conical hat offering […]

Yangon Payment Services Invitation for tender (Second Step). Closing Date 14 Nov 2017

Subscribe to our tender alert mailing list Yangon Payment Services Invitation for tender (Second Step) Agency: Yangon Region Transport Authority Supervisory Committee Category: Payment Services Tender opening date – 10/17/2017 Tender closing date – 11/14/2017 (A) Tender sale of the Second Step of the application forms and the RFP tender – 17/10/2017 (B) Tender to […]

JICA onboard to help modernise banking systems

A new payment system to facilitate international business transactions could be in use in 2017, the Japan International Cooperation Agency (JICA) announced last week. Central Bank deputy governor U Set Aung and JICA Myanmar’s chief representative Tanaka Masahiko signed the agreement to modernise the funds payment and securities settlement systems on February 4. “We have […]