More ATMs across banks in Myanmar are accepting MasterCard payments.
Following the MasterCard payments acceptance by Asia Green Development bank, Ayeyarwady (AYA) Bank has begun accepting MasterCard payment cards and Maestro/Cirrus cards for cash withdrawals at ATMs. AYA bank currently has a wide reach of 69 ATMs and over 52 branches across the country.
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This move by the local bank comes in lieu of the 1m visitors expected to visit the country during the Southeast Asia games taking place in the coming month. In the long-term the bank hopes to expand customer offering through deeper partnership with the payments provider.
As of November 2013, the number of active ATMs in Myanmar that accept MasterCard and Maestro/Cirrus cards stands at over 350 ATMs.
Phyo Aung, managing director at AYA bank, commented:
"While we are a local bank, we subscribe to global best practices and we are especially proud to be partners with a global payments expert such as MasterCard to offer ATM cash withdrawals to some of the two billion MasterCard and Maestro/Cirrus cardholders worldwide for whenever they travel to Myanmar.
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By GlobalData"As we continue to invest significantly in training and technology, we hope to be able to expand our offerings for our customers in partnership with MasterCard in the near future."
Mastercard has seen significant development in the emerging market over the past year, establishing their ATM cash withdrawal, POS acceptance and prepaid travel card rollout.
Meanwhile, MasterCard is accepted for payments at more than 500 restaurants, retail outlets and hotels in Myanmar, ahead of the expected year-end target as reported earlier this year, following the rollout of Point-of-Sale (POS) terminals in March.
