A private bank in Myanmar on Tuesday began issuing JCB credit and debit cards, becoming the first in the country to do so.
Ayeyarwady Bank, also known as AYA Bank, is offering the AYA Universal MPU-JCB Co-Brand Card in an arrangement with Myanmar Payment Union Public Co., a national payment switching network recognized by Myanmar's central bank, and JCB International Co., the overseas operations subsidiary of Tokyo-based JCB Co.
Zaw Zaw, the bank's founder and chairman, called the co-branding arrangement "another milestone" in Myanmar's card payment market and said it will help the country move toward its goal of a cashless economy.
Kimihisa Imada, deputy president of JCB International, said Myanmar is the 22nd country where JCB cards are issued and has great potential for growth in the card payment market.
JCB has a global network of about 31 million merchants and over 1 million cash advance locations in 190 nations.