Myanmar (Image source: depositphotos.com)

Myanmar (Image source: depositphotos.com)

A trio of financial organisations have launched the AYA Universal Corporate MPU-JCB co-branded card in Myanmar – the nation’s first corporate credit card targeted for business payment use.

Ayeyarwady Bank (AYA Bank), Myanmar Payment Union (MPU) and JCB International (JCBI), the international operations subsidiary of JCB, have teamed up for the new card which has two different products: universal corporate platinum credit card and universal corporate gold credit card.

U Zaw Zaw, founder and chairman of AYA Bank, says: “The Myanmar economy is growing fast and we have commercial co-operation with neighbouring countries which means companies need to send their employees on business trips and need to use other international services.”

Kimihisa Imada, president and COO of JCB International, adds: “Without a corporate card, sometimes employees need to take money out of their personal account to pay for company expenses. With the AYA Universal Corporate MPU-JCB co-branded card, employees don’t need to pay themselves.”

AYA Bank received its banking licence from the Central Bank of Myanmar and opened for business in mid-2010. It offers retail and commercial banking services.

MPU was established in 2011 under the guidance of the Ministry of Finance and the Central Bank of Myanmar. It started operating as national payment switch in late 2012 with the issuance of debit cards.

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