This was revealed by. Vincent Ling, assistant general manager of Union Pay International in Myanmar.

According to Ling, the company will focus on spreading the use of contactless payment systems, and increase the use of QR systems in cooperation with local banks.

“We will increase the use of the contactless payment system for the two types of cards we issue in Myanmar, which in turn will help to raise the take up of our cards. The second strategy – the use of QR code-based payment systems – will be put in place once we receive permission from the Central Bank Of Myanmar,” Ling said.

Currently, Union Pay issues debit and credit cards in Myanmar. The company is currently running its three-month Go for Gold luck draw event to raise the number of card users, he said.

Ling revealed that Union Pay is working with United Amara Bank on the nationwide implementation of contactless payment systems in 500 locations.

“The number of participant banks for the QR system has not been finalised yet as we are awaiting CBM’s approval for the service,” Ling said.

According to a survey conducted by international financial services company Visa Inc earlier this year, the number of people seeking to use card payments and QR code payment systems is growing.

Union Pay International is working with the Myanmar Payment Union (MPU) to issue co-branded debit and credit cards through local banks.

The company issues payment cards used in 177 countries worldwide.

 Translated 

Source: https://www.mmtimes.com/news/credit-card-company-aims-grow-user-base-myanmar.html