UnionPay International has collaborated with Myanmar-based Asian Green Development Bank and Myanmar Payment Network to launch a co-branded debit card in Myanmar.
The co-branded card, AGD MPU UnionPay Co-brand Debit Card, will offer a wide range of localised card services to residents in Myanmar.
UnionPay said that the card will also offer greater convenience and quality international payment services to cardholders through its global acceptance network in over 150 countries and regions.
The deal will also give UnionPay cardholders access to ATMs and point of sale (POS) terminals linked to MPU network, for cash withdrawals and transactions.
AGD Bank chairman Than Yi said: "To better serve our customers in today’s competitive payments landscape, we are glad to partner UnionPay International to enhance our bank’s ability to enable more businesses and people to transact cashless as Myanmar takes on a rapid path towards growth."
MPU chairman U Mya Than said: "We believe this card will further enhance our product offerings and elevate our partnership to the next level."
UnionPay COO David Lee said: "With our expertise, knowledge and solutions in payments network, we are confident that our partnership with AGD Bank and MPU will enable all parties to expand our base of Cardholders, better serve our customers, and most importantly continue to play an active part in the construction of Myanmar’s payment infrastructure towards a cashless society."