Traveler can now easily use Visa at almost 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar to withdraw cash, which enhances convenience and safety for traveling abroad.
In early 2013, Visa can be used at almost 90 ATMs operated by Co-operative Bank and Kanbawza Bank across Myanmar to withdraw cash.
Formerly, travelers had to withdraw enough cash before leaving for Myanmar. Visa cards could not be used to withdraw cash or pay for services once in Myanmar, mainly due to tough US sanctions that prevented US companies from offering financial services in the country.
This is used to be a difficulty for foreigners who are going to add Myanmar to their next stopover, but fortunately, the problem is gradually solved. As the country’s banking system is being upgraded through co-operation with foreign banks in 2013, credit card companies are now ready to enter the market and operate financial services.
MasterCard was the first international electronic payment card in Myanmar after it started a service in 15 November 2012 in partnership with Co-operative Bank. According to the Visa statement, local banks agreed to adopt Visa’s global security standards for electronic payment. Co-operative Bank and Kanbawza Bank’s combined Visa ATM network covers major towns including Yangon, Mandalay, Bago, and Taunggyi. Visa partnered with Planet Payment to connect Myanmar bank’s ATMs to VisaNet, and to manage the complexities of cross border ATM and POS processing.
This good news will bring benefit to foreign visitors who are interested in Myanmar travel. Without the need of withdraw cash to bring into the country, they now can fully take advantage of the modern Visa technology to enjoy a more various range of services that provide electronic payment. Enjoy your Myanmar trip with us and visit Threeland Travel Myanmar for updated information. Contact us at email@example.com for instant advice.