TRAVELLERS to Myanmar now have an additional option for transactions, after MasterCard and Co-operative Bank (CB Bank) began a rollout of 500 point-of-sale (POS) terminals throughout the country, to be completed by end-2013.
MasterCard holders will be able to use their cards at restaurants, retail outlets and hotels in Yangon, where the rollout begins. Credit card acceptance will reach Nay Pyi Taw, Mandalay and Bagan in 2Q2013.
MasterCard cards have also been accepted by ATMs in Myanmar since November last year as part of a tie-up with CB Bank.
Separately, it has also announced two new bank licence agreements with Kanbawza Bank, which owns the largest branch network in Myanmar and 46 ATMs, and United Amara Bank for the acceptance and issuance of MasterCard cards in the country.
Antonio Corro, country manager & chief representative, Indochina, MasterCard Worldwide, said: “This rollout of POS acceptance for all MasterCard cards will help manage the huge demand that new visitors and new businesses are placing on the country right now, and is especially timely given the influx of foreign visitors expected during the upcoming SEA Games in December, 2013.”
Since January 31, Visa cardholders have also been able to make transactions at POS terminals at selected merchants in Myanmar, through a collaboration with Myanmar Oriental Bank. Visa established a nationwide network of ATMs in December last year.
