Mastercard rolls out contactless payments to Myanmar

Thursday 21 September 2017 00:27 CET | News

Myanmar bank Co-Operative Limited Bank (CB Bank) has today announced the introduction of contactless payments acceptance in Myanmar. 

Under a partnership with Mastercard, CB Bank will facilitate the development of a network of Mastercard Contactless-enabled merchants across over 5,000 of its access points in Myanmar by the end of 2017, as well as all new merchants.

Come October 2017, Mastercard and CB Bank will launch a Mastercard contactless credit card for Myanmar consumers. Mastercard Contactless cardholders simply have to tap on a contactless-enabled merchant terminal to make payment.

Mastercard Contactless cardholders will soon be able to make contactless payments for everyday purchases in Myanmar at a range of merchants including supermarkets, convenience stores and petrol stations, as well as outside of the country at more than 6.5 million locations in 97 countries where Mastercard Contactless is accepted.

Contactless acceptance is an excellent choice for any merchant, especially in environments where speed and convenience are valued and cash is currently the dominant payment method.

In October 2013, Mastercard and CB Bank launched Myanmar’s first ever payment product – a prepaid travel card for locals to use overseas. – with the subsequent launch of a contactless prepaid travel card in 2016, which was Mastercard’s first contactless card in Myanmar, as well as Mastercard credit cards in the same year.

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Keywords: MasterCard, contactless, Myanmar, CB Bank, merchant, mobile payments
Categories: Payments & Commerce
Countries: World
This article is part of category

Payments & Commerce