One of the leading national banks and newest MasterCard
licensee in Myanmar, Asia Green Development Bank Limited, is now accepting
MasterCard payments cards for cash withdrawals at its ATMs throughout the
country.
The move is timely given the upcoming 27th Southeast Asian
Games (SEA Games) which will be held in Naypyidaw ,
Myanmar
AGDBank, which is also headquartered in Naypyidaw, has 34 branches
and operates 69 ATMs across the country in states such as Yangon, Naypyidaw and
Mandalay .
With AGDBank ATM acceptance, this brings the number of
active ATM's in Myanmar that accept MasterCard and Maestro/Cirrus cards to over
275 ATMs.
“We are certainly pleased to announce that AGDBank is ready
to accept MasterCard and Maestro/Cirrus cards for ATM cash withdrawals despite
being licensed a little over two months ago. Our team of staff has been working
tirelessly and very closely with MasterCard to ensure that the ATM acceptance
is smooth and compliant with MasterCard’s stringent requirements,” said Mr.
Than Ye, Chairman of AGDBank.
MasterCard first issued a license to a Myanmar bank in
September last year, and just last month, the country witnessed the launch of
its first prepaid card in the country, made available to Myanmar residents for
when they travel outside of the country.
“While the economy of Myanmar is almost 100% cash-driven, we
are seeing changes happen almost every single day, and each one is a step in
the right direction towards driving financial inclusion, reducing the usage of
cash, and ultimately driving e-commerce and mobile payments usage. This is
possible given the many capable bank partners that we work with, including
AGDBank,” said Mr. Antonio Corro, country manager, Thailand
and Myanmar ,
MasterCard.
MasterCard is already accepted for payments at more than 500
restaurants, retail outlets and hotels in Myanmar , ahead of the expected
year-end target as reported earlier this year, following the rollout of
Point-of-Sale (POS) terminals in March.
As of 13 November 2013, MasterCard has nine partners in Myanmar
(eight Financial Institutions & 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.
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