Co-Operative Bank to issue JCB Debit Card in Myanmar

Wednesday, 30 November 2016, 16:00 HKT/SGT

Yangon and Tokyo, Nov 30, 2016 - (ACN Newswire) - Co-Operative Bank (CB 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 CB Bank will start to issue JCB debit card in December 2016.

The CB 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 offers 3 different card types, Platinum debit card, Gold debit card, Standard debit card. All the cardmembers can enjoy JCB privileges such as JCB Plaza, staffed service counters for JCB cardmembers located around the world. Also cash back and discounts at selected CB merchants will be offered to Platinum and Gold CB MPU-JCB Co-Brand Cardmembers. 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.

Kimihisa Imada, Deputy President of JCB International said, "I am delighted to have a partnership with CB Bank as the second JCB card issuer in Myanmar. JCBI entered into the market in 2012, and we have been committed to providing support to the expansion of the Myanmar payment market in cooperation with MPU. I am confident that the issuance of CB MPU/JCB Co-badged Card will grow the market even further and will contribute to the financial inclusion."

U Kyaw Lynn, Executive Vice Chairman & CEO of CB Bank commented, "On behalf of Co-operative bank, I am very pleased to announce that we are issuing CB-JCB debit card. This partnership between CB and JCB will strengthen ties between our business and our countries. Our customers here in Myanmar can enjoy all the benefits developed by CB and JCB when using in Myanmar and using in oversea countries."

About Co-Operative Bank

Established since 1992, CB Bank is one of the earliest and largest private sector banks in Myanmar, employing about 7000 employees. CB Bank has business lines in retail banking, corporate banking and SME banking. CB Bank offers services in consumer financing, cards & merchant services, corporate finance & advisory, international trade, treasury and transaction banking. CB Bank has 171 branches, 350 mobile banking agents and more than 500 ATMs all over the country. CB is also the largest international card issuing bank and holds the most market share in the POS merchant acquisition in Myanmar.

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 cards were issued by our member banks and first co-brand debit cards were issued in Feb 2016 and soon followed by issuance of co-brand credit cards. In April 2015, MPU launched MPU e-commerce service in partnership with its technical service provider 2C2P. MPU has the only official national payment switching network recognized by the central bank of Myanmar, and currently 23 members of 28 local financial institutions have been connected to MPU.

About JCB

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/

Contact

Co-Operative Bank
U Zayar Aung
General Manager
Tel: +95-1-378905
Email: contact@cbbank.com.mm

Myanmar Payment Union Public Co.,Ltd
U Zaw Lin Htut
CEO
Tel: +95-1-8603895
Email: mpu.ceo@mptmail.net.mm

JCB International Co., Ltd.
Ayako Tanaka
Corporate Planning
Tel: 81-3-5778-8390
Email: jcbinternational-pr@info.jcb.co.jp

Topic: Press release summary
Source: JCB / C B Bank
Sectors: Cards & Payments, Daily News
https://www.acnnewswire.com
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