[Myanmar] Japanese Credit Card Firm Signs Mou

The Tokyo-based Japan Credit Bureau International (JCBI) said on Monday that it signed a memorandum of understanding with Burma’s national payment network Myanmar Payment Union (MPU) that would allow its credit cards to be accepted by MPU member banks and enable MPU members to issue JCB cards. JCB said it aims to expand its card acceptance in Burma early in 2013 and to launch a card issuing program in the near future. MPU was established by the Central Bank of Myanmar with 17 local banks to promote local use and issuance of payment cards.