MasterCard signs an agreement with Myanmar bank
MasterCard has started signing an agreement with one of the banks in Myanmar making it easy and convenient for customers to use the electronic payment method. The introduction of this method will certainly hit the interests of consumers for they usually transact business by paying cash, according to news reported from AFP.
With the credit card network, it would benefit most tourists and businesses without carrying their bundles of cash with them. MasterCard said that it would also improve and enhance the awareness of the citizens of Myanmar towards the latest electronic system.
Georgette Tan of MasterCard Worldwide in Singapore revealed that they are committed in establishing business trade in Myanmar. It will take a few months for the process of securing cards to be issued and accepted in Myanmar will take a few months.
Moreover, about 80 ATM in Myanmar are not connected to international banking and 30% of this ATM
belongs to the Co-Operative Bank, the report said.