Majority of Myanmar People Want Access to Banking and Cashless Payment Methods

YANGON — The majority of people in Myanmar want access to banking services and cashless payment methods, such as credit and ATM cards, mobile payments, contactless payments and payment via QR codes, according to Visa’s Financial Education for Sustainable Growth Study. The Study, conducted recently in Myanmar by global payments technology company Visa, is part […]

Linking small merchants with buyers in Myanmar

SPURRED on by increased data consumption in line with rising sales of smartphones in Myanmar, e-commerce operator Barlolo.com is planning nationwide expansion, its top executives say. Min Min, chief operating officer of 3KO Ventures Co, which operates Barlolo.com, said in an exclusive interview that more than 50,000 people typically visit the website each month to […]

CB Bank successfully adapting to meet the needs of a new generation

Economic liberalisation came relatively late to Myanmar, but the country has been working hard to make up for its slow start. Following a military coup in 1962, the country was governed by an oppressive dictatorship and subsequently experienced the ignominy of being rated one of the least developed and most corrupt nations in the world. […]

Ministry criticises slow action on visa-on-arrival proposal

Hotels and Tourism Union Minister U Ohn Maung criticised the slow action on the ministry’s proposal to issue a visa-on-arrival (VOA) to tourists from China, Japan and South Korea to boost the country’s tourism. “We thought they (the Immigration Department) would give visas-on-arrival for package tours if visitors arrive by air,” U Ohn Maung told […]

Businesses, government must embrace digital technology to stay relevant

To develop and expand, Myanmar must embrace and keep up with the pace at digital technology is changing the economy and the way companies do business around the world, tech experts at the Digital Transformation Summit said. The summit was jointly held by the Myanmar Federation of Chamber of Commerce and Industries (UMFCCI) and US […]

Visa Profits up on Better Use of Its Credit Cards

Visa Inc beat Wall Street’s quarterly profit expectations when it released financial results on October 25 as more people made payments using its world-wide network, which includes Myanmar. Visa’s payment volumes rose 9.8 percent to $1.93 trillion with the US accounting for about 43 pc of that total. For the quarter ended September 30, net […]

CB Bank launches contactless system with Visa, Master

INTERNATIONAL payment service providers Visa and Master have launched a contactless payment system in collaboration with CB Bank. It aims to substitute the current cash payment system in Myanmar, U Zayar Aung, head of cards at CB Bank told The Myanmar Times. The service will allow users to make payments by just touching their debit […]

Two countries, one destinations” campaign to be established for Bagan and Siem Reap

Myanmar’s Ministry of Tourism is pushing forward with the implementation of a “two countries, one destination” campaign that hinges on establishing direct flights between the historic cities of Bagan and Siem Reap. The campaign’s single-visa programme would allow tourists holding either a Myanmar or Cambodia visa to travel directly between the two countries without the […]

Myanmar E-Commerce Leader Pushes for Expansion

THOUGH a large percentage of Myanmar’s 53-million population still prefer going out to shop, more than half a million people visit Shop.com.mm, the nation’s leading e-commerce platform, for online shopping on a monthly basis, said its chief. Sumit Jasoria, managing director of Shop.com.mm, said in an exclusive interview that the firm was seeing some good […]

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 […]