Global payments firm Visa has reached an agreement with Telenor Myanmar and CB Bank to provide a Visa Card to CB Bank customers. According to a report in the Myanmar Times, the move came after the Central Bank of Myanmar raised annual credit card interest rates from 13 percent to 20 percent last month. “This new initiative will serve as a catalyst towards creating a cashless society and promote financial inclusion in Myanmar, as more people will have access to finance and credit,” said U Kyaw Lynn, chief executive officer of CB Bank. The new credit card will feature Visa’s contact-less payment technology. The aim is to move Myanmar towards a less-cash society, said Lilian Wang, country manager for Visa Myanmar. The article said that there are currently about 500,000 and 600,000 credit card holders in Myanmar.
Upcoming Events
- No events
- all events
Highlights
Terminals, ports, logistics, liner operations disrupted
German containerline Hapag Lloyd has announced a decision to temporarily suspend cargo bookings into Myanmar …Facebook, Instagram ban military and related pages with immediate effect
In a February 24th update to its February 11th statement, Facebook through its Director of …Luxury Japanese real-estate complex called out for funding military
Despite distancing itself from other major Western states imposing sanctions on military-linked individuals and entities, …
Myanmar in the Media
- India starts deporting Myanmar refugeesSource: Bangkok Post Recent StoriesMay 2, 202415 hours ago
- South Korea raises terror alert following reported North Korea threat Source: Voice of America East AsiaMay 2, 202417 hours ago
- Myanmar refugees flee conflict and conscriptionSource: Voice of America East AsiaApril 30, 20243 days ago
- Thai foreign minister quits after cabinet reshuffleSource: Voice of America East AsiaApril 29, 20244 days ago
Thura NewsViews
Myanmar’s most widely read newsletter on the country’s politics, economy and businesses brought to you by Thura Swiss