First international card transaction
The first international payments card transaction was made at the first ATM installed in Myanmar using a MasterCard, as announced by Co-operative Bank LTD (CB Bank) and MasterCard Worldwide (view press release).
The transaction took place at the headquarters of CB Bank on the corner of 23rd Street and Strand Road in Yangon, at the same site where Myanmar ‘s first ATM was installed in November 2011. Tourists and business travellers with an international MasterCard, Maestro or Cirrus card can now withdraw money, including in the local currency ‘kyat’, for the first time at 36 CB Bank ATMs around Myanmar, which also includes an outlet at Yangon International Airport.
Executive Chairman and CEO of CB Bank, Mr Kyaw Lynn, said: “This is a very important step forward for our country. We are very glad to be able to contribute to the economic development of Myanmar by pioneering the move to a global electronic payments system.”
Lynn added that the use of MasterCards at Point of Sales (POS) terminals should be available in Myanmar (also known as Burma) within four months and that its citizens travelling abroad should be able to use MasterCard inside of a year.
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