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MasterCard Celebrates its First ATM Transaction in Myanmar

Travel News Asia Latest Travel News Podcasts Videos Friday, 16 November 2012
 

The first ATM installed in Myanmar has also become the first to accept an international payments card.

The transaction was made using a MasterCard card at the headquarters of CB Bank on the corner of 23rd Street and Strand Road in Yangon.

Myanmars first ATM was installed at the same location in November 2011.

Tourists and business travelers with an international MasterCard, Maestro or Cirrus-branded card can now withdraw money, and in the local currency or kyat, for the first time at 36 CB Bank ATMs around Myanmar, including Yangon International Airport.

CB Bank is one of the most established commercial banks in Myanmar, with the largest ATM network in the country.

Mr. Kyaw Lynn, Executive Chairman and CEO, CB Bank said, Enabling the first international transaction, at CB Banks ATM, opens up opportunities for business, retail and tourism for our country. The hotel and tourism industry will especially benefit from this service. We are expecting a large influx of foreign visitors during the South East Asia Games (SEA Games) scheduled in December 2013. The ability to use MasterCard at Point-of-Sales (POS) terminals is expected to be available within four months. Myanmar citizens traveling overseas can also expect to be able to use MasterCard within a year from now.

Mr. Pe Myint, Managing Director, CB Bank, added: The promise of a more connected future through electronic payments will have an equally huge impact on business and the development of country. MasterCard, Maestro and Cirrus cardholders will no longer have to worry about running out of cash when visiting this Golden Land.

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