JCB credit to be launched in Myanmar in September

Japan Credit Bureau (JCB) signed a deal with Myanmar Payment Union (MPU) in Yangon on Thursday for launching its credit card in the country, local media reported. The signing ceremony of Master License Agreement for Acquiring Business in Myanmar between Myanmar Payment Union and JCB International Co.,Ltd was attended by the Japanese ambassador to Myanmar and U Maung Maung director general of the Central Bank of Myanmar, said the Popular News. The agreement includes withdrawing cash from the automatic tellers machines (ATM) with JCB cards starting from September this year. JCB card is being used by over 80 users in more than 190 countries. MPU was established in September 2011 by 17 domestic banks in Myanmar including three state-owned banks and 14 private banks and starting in September 2012, MPU debit card was introduced for services domestically. Earlier, Master Card was introduced as the first international electronic payment card in Myanmar in November 2012, followed by Visa Card in December of the year and China Union Payment (CUP) cards in February 2013 to facilitate foreign travelers in domestic payment. There is a total of 19 private banks and four state-owned banks in Myanmar.