28 Jul AYA BANK launches AYA Universal Credit and Debit Cards
Ayeyarwady Bank, (AYA Bank), and Union Pay International (UPI), a global payment network announced their partnership with national payment switch, Myanmar Payment Union (MPU) to launch the international co-brand debit and credit cards in Myanmar on July 28,2016 2:00 PM at AYA Bank Head Office (Rowe).
The international credit & debit cards allow cardholders to make payment transactions through Union Pay’s global acceptance network in 160 countries and regions. These cards will be offered in the market with the theme of “The World is Yours”. “Our cardholders will have access to exclusive privileges, deals and discounts not only at home but abroad as well” said Kelly Moe Lwin, Senior Manager of Marketing Department, AYA Bank.
The bank introduced three types of credit card, Platinum, Gold and Silver that will cater to consumer’s varied lifestyle. Anyone who has minimum stable income of MMK 150,000 per month can apply for AYA Credit Card with no deposit requirements. Cardholder can use the card to make payment and withdraw cash at over thousands of MPU merchants across Myanmar and Union Pay’s network of merchant POS and participating member banks’ ATMs in more than 160 countries worldwide.
“Merchants accepting Union Pay cards include high end boutiques, department stores, restaurants, coffee shops, supermarkets, gas stations, travel agents, hospitals, schools, clinics, hotels and so on”, according to Ms. Nang Saw Kham Phyu, Head of Card & Payment Services Department, AYA Bank.
“The key advantage of these cards is a holistic customer experience of convenience and privileges offered to our cardholders. Myanmar is a fast progressing economy country and our bank is committed to improve consumer lifestyle and promote the country’s transition to a cashless economy. Previously only prepaid card are available for international payments but now consumers have more payment choice for their overseas business or holiday trips” Colin, Thura Maung, Director of Retail Business, AYA Bank said.
About AYA Bank
AYA Bank received its banking license from the Central Bank of Myanmar on 2 July 2010 and began operations on 11 August 2010. AYA Bank subscribes to global standards in governance, risk and compliance in its management and operations. The bank has invested significantly in training and technology as a way to ensure long term sustainable growth for the bank and for the community it serves.
At present, AYA Bank is the one of the largest leading commercial banks with over 165 branches. It is the first local bank to introduce innovative internet banking services to its customer with the full real time centralized online banking network system. Since its inception, the bank has grown steadily and customer deposits grew healthily to over Kyats 300 billion as of today, signifying increased confidence among the public in the bank.
This bank is committed to continue focusing on building strong relationship with customers, providing excellent customer service, and leveraging on technology to offer innovative products and services to compliment progression of consumer lifestyle.
About UnionPay International
UnionPay International (UPI) focuses on supporting the growth of UnionPay’s global payments business. UnionPay’s acceptance footprint has expanded to 160 countries and regions, covering more than 35 million merchants and over two million ATMs worldwide. With more than 5.4 billion UnionPay cards issued in over 40 countries and regions, UnionPay serves the world’s largest cardholder base by providing quality, cost effective and secure payment services, and ensuring convenient local services to a growing number of merchants.
In ASEAN, UPI has enabled ATM, POS acceptance and card issuance across all 10 countries. For more information about UPI, visit www.unionpayintl.com, follow “UnionPay International” on Facebook, Sina Weibo or WeChat, or download its official mobile application by searching for “UnionPay International” on Apple’s App Store or Google’s Play Store.
About Myanmar Payment Union (MPU)
Myanmar Payment Union (MPU) was established in 2011 under the guidance of the Ministry of Finance and the Central Bank of Myanmar. MPU started operating as National Payment Switch in late 2012 with the issuance of debit cards. In late 2015, MPU credit card was issued by our member banks and first co-brand debit card was issued in Feb 2016 and soon followed to issue co-brand credit card. In April 2015, MPU launched MPU e-commerce service in partnership with its technical service provider 2C2P. MPU is the only official national payment switching network to be recognized by the Central Bank of Myanmar, and currently 23 members of 28 local financial institutions have been connected to MPU.