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Myanmar: Myanmar consumers slow to adopt debit cards
Myanmar: Myanmar consumers slow to adopt debit cards
Friday, 22 July 2016 – Accustomed to cash, Myanmar’s small group of debit-card users is growing only slowly, according to bank officials, who say that bank cards are becoming more popular, but are mostly used to withdraw cash once a month, on payday. Kinks inherent in the system are preventing a rapid growth in the number of users, which has hovered at around 1.8 million, says U Zaw Lin Htut, CEO of Myanmar Payment Union (MPU).
“People are starting to use cards issued by banks and brands, and are finding it increasingly convenient as the number of stores that take cards increases,” he said. Read More?