MasterCard has joined forces with Myanmar’s Myanma Apex Bank (MAB Bank) to launch a new prepaid card in Myanmar.
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The new MAB Travel Prepaid MasterCard aims to make payment more secure and convenient for consumers during their overseas travel.
The launch of the new card forms part of the company’s strategy to expand to previously unbanked markets.
The company has earlier also launched other prepaid cards in collaboration with Co-operative Bank, Kanbawza Bank, Ayeyarwady Bank, and Myanmar Citizen Bank with 2C2P, the last being Myanmar’s first smartphone-enabled prepaid card.
MasterCard country manager, Thailand & Myanmar, Antonio Corro said: "Myanmar’s gradual opening up presents many opportunities for entrepreneurship and commerce to flourish, and their progressive participation in the global payments system that MasterCard enables not only aids the development of the local payments landscape and the businesses that are a part of it, but also facilitates global connections.
"As Myanmar continues the vital reform of its banking and financial system, MasterCard will also continue to support the country in any way that it can."
