YANGON, February 5, 2014 – Myanmar Citizen’s Bank (MCB), one of the licensed private bank in Myanmar and 2C2P Pte Ltd (2C2P), a leading provider of innovative payment solutions in Asia- Pacific, officially launch the complete POS solution for merchants in Myanmar to accept major international payment cards (Visa and MasterCard).
*(See Management of 2C2P, Myanmar Citizens Bank and some of 2C2P's merchant partners in Myanmar below)
The new service includes comprehensive payment processing capabilities for Visa and MasterCard cards coupling with three key unique features considered to be the first of its kind in Myanmar.
U Myint Win, Managing Director of Myanmar Citizens Bank said “MCB and 2C2P have been
working together for the past six months to perfect the POS solution we are launching today. We pay a lot of attentions to details and we make sure that the service we offer is high quality before signing up the merchant. We strongly believe that our current and future clients will gain great benefits from our POS solution.”
Entire POS solution runs on 2C2P’s PCIDSS Level 1 (Payment Card Industry Data Security
Standard Level 1) payment platform. PCIDSS Level 1 is the highest security standard recognition set by the payment industry.
Somboon Krobteeranon, Visa Country Manager, Myanmar and Thailand said “We congratulate Myanmar Citizens Bank on joining Visa’s network to expand the acceptance of electronic payments across Myanmar. Visa’s partnerships with Myanmar financial institutions to provide fast and secure means of payment have provided real benefits to international travelers and the Myanmar economy. We look forward to working with Myanmar Citizens Bank further as we are committed to supporting the development of Myanmar’s financial infrastructure.”
Antonio Corro, Country Manager, Myanmar and Thailand, MasterCard said: “The rollout of Point-of-Sale terminals by Myanmar Citizens Bank will benefit international visitors looking for convenient and secure payment channels when they arrive in Myanmar and help manage the huge
demand that visitors are placing on the country right now. But beyond that, this roll-out will also benefit the merchants themselves as they will be able to have real-time reporting on transactions made, allowing for better monitoring and control, which is definitely one of the key benefits of electronic payments.”
Aung Kyaw Moe, Founder and Group CEO of 2C2P added: “I am thrilled to enter Myanmar Market with our award winning products with strong track record regionally. We aim to launch more unique products in the near future in Myanmar to align with Myanmar’s rapid economic growth.”
About 2C2P Pte. Ltd.
2C2P (stands for Cash and Card Payment Processor) is a comprehensive payment solutions provider, transforming millions of everyday payments in Asia Pacific. The company offers solutions from traditional payment gateway to alternative cash payment processing, as well as variety of innovative payment solutions tailored for the needs of e-commerce and m-commerce merchants, banks and financial institutions of any size. Web: http://www.2c2p.com
Myanmar Citizens Bank Ltd (MCB) was established in 1991 and is a public bank, partially owned by the Government (Ministry of Commerce) and listed on Myanmar Security Exchange Centre (MSEC). As of mid 2012, MCB’s authorized capital is 20 billion MMK and total paid up capital is
17.61 billion MMK. Web: http://mcb.com.mm
*Management of 2C2P, Myanmar Citizens Bank and some of 2C2P's merchant partners in Myanmar
1. Piyachart Ratanaprasartporn (CEO, 2C2P)
2. Suki Singh (Managing Director, Myanmar Hotels International)
3. U Myint Win (Managing Director, Myanmar Citizens Bank)
4. U Toe Aung Myint (Director General, Ministry of Commerce)
5. Sahapol Ladda (Director of Rooms, Chatrium Hotel, Myanmar)
6. Aung Kyaw Moe (Founder & Group CEO, 2C2P)