While Burma’s Kanbawza Bank (KBZ) says its electronic operations with VISA cards are so far running smoothly, rival Cooperative Bank (CB) says it has been inundated with customer complaints due to technical problems, according to a report by Justin Heifetz in the Myanmar Times on Monday.
|Rangoon's Co-operative Bank celebrated its first ATM transaction with a VISA card on December 12 when Executive Vice Chairman and CEO Kyaw Lynn (white shirt) made a withdrawal. (PHOTO: Xiao Ting Shirley/ Mizzima)|
VISA cards are now accepted—at least in theory—at 90 ATMs operated by CB and KBZ throughout the country, but mostly in commercial hub Rangoon.
For all VISA withdrawals, the transaction fee is set at 5,000 kyat (nearly US $6). A cardholder can withdraw up to 240,000 kyat ($200) per transaction.
CB has 45 ATMs that accept VISA nationwide, nearly 40 of which are in Yangon, said Pe Myint, managing director of CB on December 27 during an interview with The Myanmar Times. Other ATMs that accept VISA are in Mandalay, Naypyitaw, Pegu and Taunggyi.
CB operates ATMs accepting VISA at Yangon International Airport, Junction Square, Junction Centre, the Taw Win Centre, the Yankin Centre and Bogyoke Market, as well as at the Chatrium Hotel, Parami Hotel, Inle Hotel, and the Governor’s Residence in Rangoon. The bank says it also plans to open an ATM service at the Traders Hotel and Park Royal Hotel.
However, according to Pe Myint: “It is taking a long time because of IT problems.”
He is reported in The Myanmar Times as saying that CB has been slammed with customer complaints over faulty withdrawals, and that cardholders cannot get their money due to limitations on the machines.
In addition to being unable to withdraw money, he said many customers were dissatisfied because the ATM could not tell them their current balance.
“We’ve contacted Visa to make repairs,” Pe Myint told Myanmar Times. With MasterCard, we are 90 percent okay, but with VISA we are not.”
However, KBZ’s general manager Zaw Lin Htut told Myanmar Times that they have not experienced any customer complaints or technical problems since they launched their ATMs that accept VISA on December 21.
VISA’s group country manager for Southeast Asia and Australasia Peter Maher reportedly told The Wall Street Journal on November 3: “In all my meetings in Yangon, the lights were going on and off and the air-conditioning was going on and off. This is Myanmar; everyone is doing things for the first time.”
For the full story: http://www.mmtimes.com/index.php/business/3671-visa-s-service-moves-too-fast-for-partner.html