CARDS & PAYMENTS | Cesar Tordesillas, Thailand

Myanmar opens door to foreign credit cards

Myanmar has granted permission to Visa, MasterCard, China UnionPay and Japan Credit Bureau to do business in the country.

The absence of those foreign credit cards has been a long-standing headache for visitors.

The Post and Telecommunications department and Myanmar Information Technology Co will handle the technical side of the launch of card services at local banks and ATMs and their usage at hotels and restaurants.

Due to decades of US sanctions, major credit cards are not widely accepted in Myanmar, obliging tourists and businesspeople to carry wads of cash.

MasterCard had signed a deal with Myanmar’s Co-Operative Bank that it hoped would pave the way for electronic payments a move it said would have a “huge impact on tourism and travel”.

For more.

Do you know more about this story? Contact us anonymously through this link.

Click here to learn about advertising, content sponsorship, events & rountables, custom media solutions, whitepaper writing, sales leads or eDM opportunities with us.

To get a media kit and information on advertising or sponsoring click here.