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December 12, 2019

UnionPay teams up with uab bank to boost card acceptance in Myanmar

Chinese card payment network UnionPay has joined forces with Myanmar-based uab Bank to enable the acceptance of its contactless card in the country.

Under the terms of the contact, uab Bank will facilitate UnionPay’s card acceptance at various types of food and beverage, retail,home-ware, and telecommunication, as well as other merchants in Myanmar.

Initially, the bank will enable more than 500 merchants including Yoogane Korean Restaurant, Bench Myanmar, as Black Canyon Coffee, Ananda and Living Square to accept UnionPay contactless cards.

Later more merchants will be enabled to accept UnionPay payment cards.

UnionPay International Southeast Asia general manager Wenhui Yang said: “The UnionPay Contactless payment marks yet another step forward in our strategy to accelerate the development of e-payments in the country, bringing about greater convenience of payment for local consumers and businesses, and fostering a future whereby most transactions would go cashless.”

uab Bank managing director and CEO Christopher Loh stated: “This follows our recent successful launch of the EMV certification of our ATM machines for UnionPay that allows UnionPay Cardholders to safely withdraw cash from our uab bank ATMs.

“We believe the introduction of UnionPay Contactless in Myanmar will benefit both local UnionPay Cardholders and overseas visitors through greater convenience and ease of payment. UnionPay Cardholders regardless of issuing bank can now use their UnionPay cards to make contactless payments at uab bank merchants.”

Recently, UnionPay International has signed card issuing agreements with eight financial institutions in five Asia Pacific countries.

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