Myanmar Payment Union in talks to partner Master Card, inks pact with Korea’s KEB Hana Card

Myanmar Payment Union is in talks with Master Card for improved services. The financial services company has also signed an MoU with Korea’s KEN Hana Card for a co-branded card system.

MPU may partner Master Card

Myanmar Payment Union (MPU) is in talks with US-based Master Card to improve access to money.

If the agreement becomes official, holders of both MPU and Master Card can withdraw cash at any local ATM machine or make a purchase at MPU accepted places, according to U Mya Than, chairman of MPU.

“We are in talks with Master Card and still under discussions. Master Card has had an agreement with local banks and is currently planning to have an official agreement with MPU,” he said, 7 Day reported.

Master Card, which has signed up with individual banks, is yet ink an agreement with MPU. There are 23 local banks as a member under MPU and have about 1.8 million users.  MPU also has connection with China’s Union Pay International and Japan’s international credit card brand, JCB.

MPU inks pact with Korea’s KEB Hana Card

Myanmar Payment Union (MPU) has signed an MoU with Korea’s KEB Hana Card  that will allow users of MPU to gain access to services provided by the Korean card firm.

The signing is just a first step towards a full fledged service offering, said U Mya Than, chairman of MPU.

KEB Hana Card is a premier card brand in Korea that aims to be global financial company in the mobile payment market. Following the deal, businesses from Korea will be able to use the financial services offered by MPU member bank in the country, he said.

MPU and KEB Hana will also act as a co-branded card that can be used in both countries.

The use of MPU cards in the country started in 2012. Yangon and Mandalay are the two cities where MPU cards are widely used.

Also Read: 

Payment services provider 2C2P establishes easyBills SP with Myanmar Payment Union

Myanmar: EasyPay to launch mobile payment service by end of March

Myanmar central bank bats for de-dollarisation, e-payments

 

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.