Visa to enter Myanmar

Modernising Myanmar's cash-dominated economy

Visa is entering the Myanmar market by training local banks to use electronic payments systems, according to the Wall Street Journal. The financial services company hopes this will help modernise the country’s cash-dominated economy as it continues opening up to the rest of the world. Visa has begun training local banks, helping them to build ATM and point of sale networks that will accept the internationally issued cards of visitors that are now visiting the country.

We know from experience that there will be an urgent requirement to provide basic ATM network and point-of-sale terminals for international visitors arriving in Myanmar for business and pleasure—and that is where we will focus first,” Peter Maher, Visa Group country manager for Southeast Asia and Australasia told the Journal. “The sooner we deliver electronic payments, the sooner Myanmar will benefit from the increased spending.

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