THE Myanmar Payment Union (MPU) and South Korean KEB Hana Card signed a memorandum of understanding (MoU) to jointly conduct payment services in Myanmar.
According to the MoU, MPU Card users will have access to the services of KEB Hana Card and South Korean businessmen will also receive the financial service from local banks. Members of the MPU and KEB Hana Card also negotiated to develop services with Master Card based in the USA, said U Mya Than, the chairman of the MPU.
The MPU Card was issued in September of 2012 and its service has been made available at nearly 1,500 ATMs of MPU across the country. There are also about 3,000 points of sales (POS) which can accept payments with MPU Cards. The MPU e-Commerce system was introduced last year in order to aid people wishing to pay tax using MPU Cards.
Source: The Global New Light of Myanmar
