Myanmar Apex Bank has teamed with MasterCard to develop the local payments infrastructure with the launch of new prepaid card. MasterCard has launched prepaid cards together with Co-operative Bank Ltd, Kanbawza Bank, Ayeyarwady Bank, and Myanmar Citizen Bank with 2C2P, the last of which was also Myanmar’s first smartphone-enabled prepaid card.
But beyond products, MasterCard has also made significant efforts to advance financial literacy by introducing financial educational programs in Myanmar. A recent partnership with Ooredoo was aimed at making economic and finance materials more accessible to the Myanmar population, which would help democratize education as well. Pledging $10,000, MasterCard had helped expedite the translation of Khan Academy’s economic and finance videos into the Myanmar language so more people could benefit from it.
In 2013, MasterCard and global humanitarian and development organization, Mercy Corps, worked together to train women entrepreneurs in rural Myanmar. Through their partnership, a business literacy program called Business and Financial Literacy for Success was implemented, benefitting women entrepreneurs, allowing them to be educated on basic business skills and money management practices.
At present, more than 2,000 restaurants, retail outlets and hotels in Myanmar accept payment cards*.
The latest MasterCard survey on Consumer Purchasing Priorities – Travel indicates that 3 out of 5 Myanmar consumers surveyed intend to travel within the next 12 months (either as much or more than they did in the past 12 months).
For data, background and forecasts on MasterCard: Search CardWeb.com’s CardFlash® Library of more than 58,000 archived articles; Access CardWeb.com’s CardData® for current and historical Performance, Portfolios, Profiles, etc. Visit RAM Research® (ramresearch.com) for quarterly and annual forecasts covering more than 150 metrics. [complimentary or deeply discounted access to CardWeb.com subscribers].
Additional database resources include CardWeb.com’s CardExecs® – comings & goings of payments movers & shakers; CardWeb.com’s CardWatch® – ears & eyes on marketing globally (57K items); and CardWeb.com’s CardPixes® – form & function of card design (7K items).