Myanmar-based Asia Green Development Bank (AGDBank) has started accepting MasterCard payments cards for cash withdrawals at its ATMs throughout the country.
The move by the bank comes ahead of the upcoming 27th Southeast Asian Games (SEA Games) that will be held in Naypyidaw, Myanmar, from 11-22 December 2013.
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AGDB has 34 branches and operates 69 ATMs across the country in states such as Yangon, Naypyidaw and Mandalay.
With AGDB ATM acceptance, the total number of active ATMs in Myanmar that accept MasterCard and Maestro/Cirrus cards reaches more than 275.
AGDBank chairman Than Ye said that the lender is ready to accept MasterCard and Maestro/Cirrus cards for ATM cash withdrawals despite being licensed a little over two months ago.
"Our team of staff has been working tirelessly and very closely with MasterCard to ensure that the ATM acceptance is smooth and compliant with MasterCard’s stringent requirements," Than Ye added.
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By GlobalDataMasterCard Thailand and Myanmar country manager Antonio Corro said while the economy of Myanmar is almost 100% cash-driven, they are seeing changes happen almost every single day, and each one is a step in the right direction towards driving financial inclusion, reducing the usage of cash, and ultimately driving e-commerce and mobile payments usage.
"This is possible given the many capable bank partners that we work with, including AGDBank," Corro added.
