Written by Admin on July 6, 2013. Posted in Business, News
Japanese card payment firm JCB International has reached an agreement with Myanmar's electronic payment network Myanmar Payment Union, Channel News Asia reported.
The Master License Agreement to accept JCB cards in MPU member banks in Myanmar has been signed.
According to the agreement, the JCB cards will come to life in all MPU card accepting locations in Myanmar—though not very much currently.
MPU was established in 2011 with 17 local banks.
"JCBI promises to share its experiences and knowledge of payment business with MPU to contribute to the healthy developments of Myanmar's payment industry", JCBI President Koremitsu Sannomiya is quoted as saying.
The JCB card acceptance will start from autumn this year.
JCBI is issuing cards in 16 countries and has partnerships with 350 banks and financial institutions.
Both parties agreed to explore opportunities to issue cards in Myanmar to introduce the cash payment to the cash-dominated market.
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Source: http://www.news.myanmaronlinecentre.com/2013/07/06/jcb-inks-deal-with-mpu-brings-in-cards-to-cash-loving-myanmar/
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