|Tuesday, 16 August 2016, 12:00 HKT/SGT
Yangon and Tokyo, Aug 16, 2016 - (ACN Newswire) - Ayeyarwady Bank (AYA Bank), a major commercial bank in the Republic of the Union of Myanmar (Myanmar), Myanmar Payment Union Public Co.,Ltd (MPU), and JCB International Co. Ltd. (JCBI), the international operations subsidiary of JCB Co., Ltd., today announced that AYA Bank has launched the first JCB credit and debit card as AYA Universal MPU-JCB Co-Brand cards in Myanmar. Myanmar is the 4th country in the Mekong region where JCB cards are issued, along with Thailand, Vietnam and Laos.
|Universal Platinum credit card
|Universal Gold credit card
|Universal Silver credit card
|Universal debit card
The Universal AYA MPU-JCB Co-Brand Card combines the MPU brand and JCB brand. Cardmembers can use MPU's nation-wide merchant network in Myanmar and JCB's international merchant network with over 31 million locations globally.
The card has 4 different kinds of product, Universal Platinum credit card, Universal Gold credit card, Universal Silver credit card, and Universal debit card. All the cardmembers can enjoy JCB privileges such as JCB Plaza, and special offers at selected merchants all over the world. JCB offers Platinum cardmembers exclusive JCB Platinum services, such as JCB Platinum airport lounge service, JCB Platinum Concierge Desk, and Special JCB Platinum Hotel Services.
U Zaw Zaw, Founder and Chairman of AYA Bank commented, "The bank has always been committed to providing our customers higher quality service and experience. This co-brand arrangement will enable cardholders to have more flexible options for their payments in foreign countries. This is another milestone in Myanmar card payment market, to promote the country's transition to a cashless economy."
Kimihisa Imada, Deputy President of JCB International said, "Myanmar is an important market for JCBI. With its growing economy and population, Myanmar has great potential for growth in the card payment market. With the start of JCB card issuing in Myanmar, cardmembers can have a new choice of payment and experience the convenience of shopping abroad with JCB's worldwide merchant network."
About Ayeyarwady Bank
AYA Bank received its banking license from the Central Bank of Myanmar on 2 July 2010 and began operations on 11 August 2010. AYA Bank subscribes to global standards in governance, risk and compliance in its management and operations. The bank has invested significantly in training and technology as a way to ensure long term sustainable growth for the bank and for the community it serves.
At present, AYA Bank is one of the largest leading commercial banks with over 165 branches. It is the first local bank to introduce innovative internet banking services to its customer with the full real time centralized online banking network system. Since its inception, the bank has grown steadily and customer deposits grew healthily to over Kyats 300 billion as of today, signifying increased confidence among the public in the bank.
This bank is committed to continue focusing on building strong relationship with customers, providing excellent customer service, and leveraging on technology to offer innovative products and services to compliment progression of consumer lifestyle.
About Myanmar Payment Union (MPU)
Myanmar Payment Union (MPU) was established in 2011 under the guidance of the Ministry of Finance and the Central Bank of Myanmar. MPU started operating as National Payment Switch in late 2012 with the issuance of debit cards. In late 2015, MPU credit card was issued by our member banks and first co-brand debit card was issued in Feb 2016 and soon followed to issue co-brand credit card. In April 2015, MPU launched MPU e-commerce service in partnership with its technical service provider 2C2P. MPU is the only official national payment switching network to be recognized by the central bank of Myanmar, and currently 23 members of 28 local financial institutions have been connected to MPU.
JCB is a major global payments brand and a leading payment card issuer and acquirer in Japan. JCB launched its card business in Japan in 1961 and began expanding worldwide in 1981. Its acceptance network includes about 31 million merchants and over a million cash advance locations in 190 countries and territories. JCB cards are now issued in 21 countries and territories, with more than 95 million card members. As part of its international growth strategy, JCB has formed alliances with more than 350 leading banks and financial institutions globally to increase merchant coverage and card member base. As a comprehensive payment solution provider, JCB commits to provide responsive and high-quality service and products to all customers worldwide. For more information, please visit: www.global.jcb/en/
Colin, Thura Maung
Myanmar Payment Union Public Co.,Ltd
Zaw Lin Htut
JCB International Co., Ltd.
Topic: Press release summary
Sectors: Cards & Payments, Daily News, PE, VC & Alternatives
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