Visa Hits Out at Central Bank Regulations

​​ Central bank regulations that bar people with domestically- issued Visa cards from making transactions within Myanmar are hindering the company’s expansion plans, according to a senior executive. Arturo Planell, Visa’s Country Manager for Myanmar, said last week that the regulations were one of the reasons electronic payments have failed to make bigger inroads in […]

Myanmar Payment Union to Upgrade ATM Card System

RANGOON — The Myanmar Payment Union (MPU) signed with Vietnamese telecom multinational FPT and the National Payment Corporation of Vietnam (NAPAS) on Sunday to initiate a financial switching system, Zaw Lin Htut, chief executive officer of the MPU, told The Irrawaddy. As MPU’s partners, FPT and NAPAS will—starting this year—help facilitate a system upgrade for ATM […]