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December 6, 2013

CB Bank launches multicurrency Visa travel prepaid card in Myanmar

Co-operative bank (CB Bank) has launched a new multi-currency Visa travel prepaid card, designed to meet the needs of Myanmar customers when travelling overseas.

By Verdict Staff

Co-operative bank (CB Bank) has launched a new multi-currency Visa travel prepaid card, designed to meet the needs of Myanmar customers when travelling overseas.

The CB Bank EASI Travel Visa card can hold up to three currencies- Euro, US$, SG$ – on a single card and cardholders can load a minimum of $50 to maximum of $5,000.

The cardholders can use it overseas anywhere Visa is accepted either online or in-store, as well as at two million ATMs worldwide.

Visa Myanmar and Thailand country manager, Somboon Krobteeranon, said that this latest development opens doors to a financially inclusive infrastructure that will benefit the country’s outbound tourism – including local cardholders and international merchants.

CB Bank executive vice chairman and CEO, Kyaw Lynn, said: "We are so glad to introduce this travel Visa prepaid card to help make their travels safe and hassle-free without the worries of carrying large amounts of cash. This card can be used in ATMs, POS and online shopping or e-Commerce by the cardholders."

Visa’s payment system was introduced in Myanmar in December 2012, and since then tourist transactions on the cards accounted for tens of millions of US dollars in inbound volume for Myanmar.

Currently, there are more than 450 ATMs, and over 750 retail points across the country.

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