The reporter learned from China UnionPay on the 18th that UnionPay International and Myanmar's Kanbawza Bank (KBZ) jointly announced the co-issuance of the first local UnionPay Platinum Credit Card, which can be used in Myanmar and abroad to provide a wealth of UnionPay card exclusive. Rights and interests to better support the exchanges between China and Myanmar.
Gambosa Bank is Myanmar's largest commercial bank. The two companies jointly issued UnionPay credit cards, including Puka and Asia Prestige Platinum cards, which can be used in UnionPay acceptance networks in 160 countries and regions, and support online payment functions. . This is also the first Asian Prestige Asia Union theme card to be released in Southeast Asia. It is designed for business travellers in frequent areas. It combines the advantages and benefits of UnionPay cards in Asia. Exclusive offers and value-added services cover many tourist attractions, well-known merchants and Airport, high-speed rail VIP hall, etc.
The relevant person in charge of China UnionPay said that “UnionPay†was the first international card brand to be issued with the banks of the Myanmar Payment Union (MPU). Previously, bank cards issued in the Myanmar market could only be used locally. Since the beginning of this year, UnionPay International has cooperated with AGD Bank and CB Bank to issue UnionPay, MPU joint debit cards and credit cards respectively, and is the first to realize the local card issuance outside Myanmar. The MPU is Myanmar's national transit network and consists of 23 banks in the country.
With the implementation of the “Belt and Road†initiative, Myanmar’s UnionPay card business has made substantial progress: First, all local ATMs and more than 80% of POS terminals can accept UnionPay cards to meet the payment needs of visiting and local consumers; The scale of card issuance has grown rapidly, bringing convenience and preferential payment experience to more Myanmar residents. “UnionPay†has become the international card brand with the largest market share in the local market.
It is understood that at present, the 10 countries of ASEAN have all realized the acceptance and issuance of UnionPay cards, and the localization process of UnionPay card business has been accelerating. ATMs in Singapore and Thailand can all be cashed out with UnionPay cards, with merchant coverage exceeding 80% and 90% respectively; ATM coverage in Malaysia, the Philippines and Vietnam is 90%, and Vietnamese merchants are over 80%. At the same time, more and more residents in Singapore, Malaysia, Thailand and other areas like to use UnionPay cards in their daily consumption and international travel.
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