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CARDS & PAYMENTS | Cesar Tordesillas, Thailand

MasterCard is first int'l electronic payment card in Myanmar

Travelers can now withdraw at ATMs.

This is a result of MasterCard's becaming the first international electronic payment card in Myanmar operational with the country's first ATMs.

Tourist and business travelers with MasterCard, Maestro or Cirrus card will now be able to withdraw money in local currency ( Kyat) at 36 Cooperative Bank's ATMs across the country, including that in Yangon International Airport.

Using MasterCard at points-of-sale is expected to be available at hotels, restaurants, souvenir shops etc., within four months while Myanmar citizens traveling overseas can also expect to be able to use MasterCard within a year from now, said Rona Rakhit, head of Business Development and Strategic Initatives Group of Cooperative Bank.

The move is timely made in preparation for the upcoming Myanmar- hosted 27th Southeast Asian (SEA) Games in late 2013.

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