Card payments will be accepted at more than 500 restaurants, retail outlets and hotels in Myanmar by the end of the year, following the announcement of a rollout of Point-of-Sale (POS) terminals by Co-operative Bank Ltd (CB Bank) and MasterCard Worldwide. The nationwide rollout will see POS credit card acceptance in hotels and retail outlets in Yangon, followed by the cities of Nay Pyi Taw, Mandalay and Bagan towards the second quarter of 2013.
MasterCard was the first international payments network to issue a license to a Myanmar bank in September last year, paving the way for branded cards to be issued and accepted in the country for the first time. Officially, international payments cards have only been accepted by ATMs in Myanmar since November, when MasterCard and CB Bank also teamed up to launch the first transaction at one of the bank’s Yangon ATMs.
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