Myanmar Payment Union signs agreement with JCB for EMV debit cards in Myanmar

Myanmar Payment Union (MPU) has entered into a master license agreement with JCB International (JCBI), a subsidiary of Japan-based credit card issuer JCB, to issue co-branded cards to residents of Myanmar.

Under the agreement, MPU member banks in Myanmar will provide MPU-JCB co-branded cards linked with their customer saving accounts.

The cards will be accepted on the JCB’s acceptance network including 27 million JCB merchants in 190 countries and territories across the world.

Available through J/Smart, JCB’s EMV compliant chip program, the co-branded cards will facilitate secure payment transactions in Myanmar.

The initiative of using J/Smart, JCB’s EMV-compliant chip program will add to MPU and its member bank’s domestic payment scheme portfolio.

JCBI deputy president Kimihisa Imada said: "With the strong leadership of MPU in the financial industry, JCBI promises to share its experiences and knowledge of payment business to contribute to the healthy development of Myanmar’s payment industry."

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