Excel KC Myanmar to Provide Payment Services for YBS

Excel KC Myanmar Co has won a tender by the Yangon Regional Government to implement the Yangon Payment Services (YPS) cashless payment system on all Yangon Bus Service (YBS) buses this year.

The company was selected over two other companies which were shortlisted by the Yangon Regional Government to provide the service.

After conducting checks and meeting with a total of 14 companies which tendered for the project, the Tender Supervisory Committee shortlisted AnyPay Payment Services Co, Asia Stamar Transport Intelligent Co., and Excel KC Myanmar as the top three potential candidates for the job.

The winner was announced on Wednesday, two days later than scheduled. According to the announcement, the government may still cancel the contract with Excel KC Myanmar should any inconveniences or disagreements arise when discussing the terms. The contract will then be given to one of the other two shortlisted firms.

After switching to the Yangon Bus Service (YBS) from the old Ma Hta Tha transportation system last January, Yangon Chief Minister U Phyo Min Thein is now focused on implementing YPS, which involves the use of prepaid cards to pay for the fares on all buses.

Under the new YBS system, the government had replaced all bus conductors with cash boxes in all buses. However, commuters abused the system by placing paper instead of cash into the boxes, while others paid torn or damaged notes.

By implementing the new prepaid card system, the government hopes to solve these problems. According to U Phyo Min Thein, the prepaid card can also be used in trains, water taxis, restaurants and supermarkets by connecting with the banks. Cash will be deducted directly from the cards and commuters will be charged based on distance in miles.

‘’We hope to start the service by February, but can’t say when exactly. And we can’t say definitely that the card can be used by other modes of transportation and supermarkets,” said secretary U Maung Aung from Yangon Region Transport Authority (YRTA).

While the card payment system is not new in international countries, it is the first time Myanmar is attempting to go cashless.


Source: Myanmar Times


To see the original article click link here

NB: The best way to find information on this website is to key in your search terms into the Search Box in the top right corner of this web page. E.g. of search terms would be “property research report”, ”condominium law”, "Puma Energy", “MOGE”, “yangon new town”,"MECTEL", "hydropower", etc.