Payment major Mastercard has expanded into the Myanmar market by incorporating an entity in the country while China’s Didi Chuxing has started offering its ride-hailing services in Russia.
Mastercard to set up entity in Myanmar
Mastercard on Tuesday announced that it is taking steps to incorporate an entity in Myanmar.
The payment major will establish a local office presence in Yangon and appoint a country business development manager.
Mastercard said that the establishment of the local office underscores its long-term commitment to advancing Myanmar’s national digital agenda.
“as part of the organization’s commitment to grow the local talent pool, Mastercard is well on its way to assembling a local team which will lead the local efforts and facilitate Mastercard’s objective for sustainable, domestically relevant, long-term success,” said Safdar Khan, Division President, Southeast Asia Emerging Markets, Mastercard.
China’s DiDi launches in Russia
China’s Didi Chuxing has started offering its ride-hailing services in Russia, its first Eurasian market, according to an announcement.
The launch of DiDi Express in Kazan, the capital and largest city of the Republic of Tatarstan, Russia is a new milestone in the company’s global expansion.
Driver recruitment began in late July and has been well received by the local driver community, it said.
DiDi already operates mobility, food and delivery services in Australia, Japan, Brazil, Mexico, Costa Rica, Chile, Colombia and Panama.
In May, Didi Chuxing announced its autonomous driving subsidiary raked in $500 million in what is the firm’s first external funding round since DiDi created the subsidiary in 2016.