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August 25, 2014

China’s UPI card to be launched in Myanmar next month

China UnionPay International (UPI) in collaboration with Myanmar's Cooperative Bank (CB) will launch EASi Travel UnionPay card for the first time in Myanmar starting on 1 September 2014.

By Verdict Staff

China UnionPay International (UPI) in collaboration with Myanmar’s Cooperative Bank (CB) will launch EASi Travel UnionPay card for the first time in Myanmar starting on 1 September 2014.

CB’s executive vice chairman and CEO Kyaw Lynn was quoted by Xinhua as saying the EASi TRAVEL UnionPay Card issued in Myanmar is deposited with Myanmar Kyats and can be used in and outside China.

Accepted by over 140 countries and regions, the China UPI card is being issued in more than 30 countries including Myanmar to facilitate Myanmar citizens in domestic and international payment.

In late 2012, China UPI and the CB have inked a deal to open ATM business in Myanmar. In May 2013, the UPI also signed agreement with Myanmar Payment Union (MPU) for payment at ATM and points-of-sale (POS) of its member banks.

Currently, there are 800 ATMs and 3,000 POS across Myanmar.

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