Another step in the effort to better connect Myanmar to the global financial system has been taken, with AYA Bank becoming the first lender to offer bank cards with a stamp from global payment network provider JCB.
The bank is issuing debit and credit cards with a joint stamp from Japan’s JCB and Myanmar Payment Union (MPU), meaning it can be used in Myanmar and across a JCB network spanning some 31 million merchants in 190 countries and territories.
“It’s a move that will connect Myanmar’s card system with [those in] other countries,” said U Zaw Lin Htut, CEO of MPU, at a signing ceremony between AYA Bank, MPU and JCB yesterday.
U Zaw Zaw, founder and chair of AYA Bank, noted that an earlier lack of infrastructure and resources had held Myanmar’s banking system back from being able to join worldwide payment networks like JCB’s. (Courtesy of mmtimes.com)
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