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25 Aug, 2014

China UnionPay International card to be launched in Myanmar

Xinhua, August 22, 2014 YANGON, — China UnionPay International (UPI), in cooperation with Myanmar’s Cooperative Bank (CB), will introduce EASi Travel UnionPay card for the first time in Myanmar starting on Sept. 1 to facilitate Myanmar citizens in domestic and international payment, a bank official said here Friday.

The EASi TRAVEL UnionPay Card issued in Myanmar is deposited with Myanmar Kyats and can be used in and outside China, U Kyaw Lynn, executive vice chairman and CEO of the CB, told a press briefing.

Accepted by over 140 countries and regions, the China UPI card is being issued in more than 30 countries including Myanmar.

In December 2012, China UPI and the CB signed an agreement to open ATM business in Myanmar. In May 2013, the UPI also signed agreement with Myanmar Payment Union (MPU) for payment at ATM and points-of-sale (POS) of its member banks.

At present, there has been 800 ATMs and 3,000 POS across Myanmar.

Myanmar introduced Master Card as the first international electronic payment card in November 2012, followed by Visa card in December in the same year.