YANGON, Myanmar, Jan. 22, 2018 /PRNewswire/ -- Global Treasure Bank (GTB) today launched its first set of bank cards in partnership with the global payments brand, UnionPay. Featuring three credit cards - one Platinum UnionPay Credit Card and two Classic UnionPay Credit Cards - equipped with UnionPay QuickPass, this set of cards will enable GTB Cardholders to make contactless and QR Code payments via UnionPay's global network, providing greater convenience and enhancing the ease of payment for consumers in Myanmar.
The partnership also covers an inaugural cooperation in system development and card data management, with these services being provided by UnionPay Data Services. As a first cooperation of its kind between UnionPay International (UPI) and UnionPay Data Services in Myanmar, this paves the way for more banks in Myanmar to work with a leading outsourcing provider in card-issuing data processing like UnionPay Data Services to issue bank cards.
As a global payments brand that serves the world's largest Cardholder base of 6.3 billion , UnionPay has partnered with six banks in Myanmar to issue a range of UnionPay prepaid, debit and credit cards. The GTB UnionPay credit cards unveiled today mark the first set of UnionPay single-logo credit cards to be launched in Myanmar, which are accepted at almost all ATMs and POS terminals in the country. The GTB UnionPay cards can also be used by Cardholders to make payment at over 45 million merchants worldwide, including contactless payments at over 10 million POS terminals within the UnionPay network.
GTB, as one of the leading commercial banks in Myanmar, has an extensive network throughout the country. With the launch of the new GTB UnionPay credit cards, this will enable GTB Cardholders to enjoy a wide range of offers at thousands of merchants globally, including merchants located at some of the favourite travel destinations for people in Myanmar - such as Hong Kong, Singapore, Thailand and more.
Mr. Wenhui Yang, General Manager of UnionPay International Southeast Asia, said, "UnionPay's goal is to serve the payment needs of the market by connecting consumers, businesses and financial institutions with cost-effective, secure and state-of-the-art payment technologies. Together with GTB and our local partners, we can now upgrade the payment infrastructure in Myanmar to roll out QR Code payments, mobile wallets and other cutting-edge payment solutions for people in Myanmar to enjoy more convenient and secure ways to pay."
"This new set of credit cards will also provide Cardholders with greater ease of payments within Myanmar, as well as when they are travelling to popular destinations such as mainland China, Hong Kong, Japan, Korea, Malaysia, Singapore, Thailand and more via our global UnionPay payment network. This represents our ongoing efforts to support Myanmar's cashless agenda, to help realise its vision of becoming a smarter nation."
Mr. U Maung Maung Thein, Chairman of GTB, said, "Today is a milestone for GTB as this is the first time that GTB is issuing bank cards, as well as credit cards. We are pleased to work with a leading global payment brand like UnionPay, which has an extensive network around the world. This cooperation echoes our aim to be at the forefront of banking innovation, and we will continue to provide customers with the best offers and payment solutions tailored to their needs."
About UnionPay International
UnionPay International (UPI) focuses on the international business of UnionPay, a global payment network that serves the world's largest Cardholder base. With over 6.3 billion UnionPay cards issued in over 160 countries and regions, over 45 million merchants and 2.55 million ATMs accepting our cards worldwide, UnionPay is currently one of the fastest-growing payment networks in the world. In Southeast Asia, UnionPay has enabled ATM, POS acceptance and card issuance across all 10 countries.
In Myanmar UnionPay cards are accepted at almost all ATMs and POS terminals. UnionPay collaborates with AGD Bank, AYA Bank, CB Bank, KBZ Bank and MOB Bank to issue a wide range of Prepaid, Debit and Credit products to cater to the diverse payment needs of local customers and businesses.
As a company with a global acceptance network and a wide range of world-class payment products and services, UnionPay is committed to providing access to secure and convenient payment solutions that are tailored to the needs of the local market, to enable choice and ease of payment for consumers and businesses alike.
For more information, please visit: www.unionpayintl.com
About Global Treasure Bank International
Global Treasure Bank was founded as a public company limited by shares in 1996 by the initial name of Myanma Livestock and Fisheries Development Bank. The New name Global Treasure Bank (GTB) was changed from 2013. To provide good banking services to customers' satisfaction and convenience, GTB Bank has expended its banking network to 129 Branches country wide. For more information, please visit: http://www.gtbmm.com/
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