Retail in Asia

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More ATMs, POS in Myanmar now accepting MasterCard

Just a week after MasterCard announced that Asia Green Development Bank Limited (AGDBank) began accepting MasterCard payments cards for cash withdrawals in Malaysia, another bank, Ayeyarwady Bank Limited (AYA Bank) has also gone live with ATM acceptance for cash withdrawals using MasterCard and Maestro/Cirrus cards.

This means more ease and convenience for the one million visitors expected to converge in Myanmar during the 27th Southeast Asian Games (SEA Games), which will be held in Naypyidaw, Myanmar’s capital, from 11 to 22 December 2013.

AYA Bank currently has 69 ATMs and over 52 branches across the country.

“While we are a local bank, we subscribe to global best practices and we are especially proud to be partners with a global payments expert such as MasterCard to offer ATM cash withdrawals to some of the two billion MasterCard and Maestro/Cirrus cardholders worldwide for whenever they travel to Myanmar," aid Phyo Aung, Managing Director, AYA Bank.

He said the bank is looking at expanding its product offerings in the future.

As of this month, the number of active ATMs in Myanmar that accept MasterCard and Maestro/Cirrus cards stands at over 350 ATMs. MasterCard is accepted for payments at more than 500 restaurants, retail outlets and hotels in Myanmar, which is ahead of the expected year-end target reported earlier this year.

MasterCard also has nine partners in Myanmar (eight Financial Institutions and one Finance Company): Co-Operative Bank Ltd; Kanbawza Bank Ltd; United Amara Bank Ltd; Myanma Apex Bank Ltd; Myanmar Citizens Bank Ltd; Myanmar Oriental Bank Ltd; Ayeyarwady Bank Ltd; Asia Green Development Bank Ltd; and Ryuji Finance Company Ltd.