UnionPay to help Myanmar develop cashless society

22 February 2019
UnionPay to help Myanmar develop cashless society

Chinese financial service provider UnionPay pledged to help Myanmar in developing payment infrastructure to transform into a cashless society soon, according to a Xinhua report.

To offer payment services in Myanmar, UnionPay is now working in partnership with local Asia Green Development Bank (AGD), Ayeyarwady Bank (AYA), Co-operative Bank (CB), Kanbawza Bank (KBZ), Myanma Apex Bank (MAB) and Myanmar Oriented Bank (MOB).

In 2017, UnionPay and Myanmar Payment Union (MPU) signed a chip card standard licensing agreement to adopt UnionPay chip card standard as MPU's sole technical standard in card acceptance and insurance.