Dec 26, 2012

Visa cards now available in Myanmar: CB Bank

Visa cards can now be used in Myanmar, according to an official from a commercial private bank in the country.

Managing Director Phay Myint from Co-operative Bank, known as CB Bank, said at a press conference on December 21 that the cards can be used at the bank and Kanbawza Bank, another commercial private bank.

An initial launch on December 12 made the card service available at ATMs at the airport and bank branches. This time, debit and credit cards can be used to withdraw cash from 45 ATMs, out of 55 installed by the CB.

The US-based financial-services giant signed licensing agreements with three local banks, Kanbawza Bank Ltd., Myanmar Oriental Bank Ltd. and Co-Operative Bank Ltd., following an announcement in August that it will start training workshops for banks in the country.

Visa Inc. is an American multinational financial services corporation headquartered in the United States. Visa and debit cards are widely used in more than 170 countries around the world.

Source: Eleven Media Group