Visa prepares for e-payments in Myanmar

Visa has stared a series of training workshops to prepare selected local banks for the introduction of electronic payments in Myanmar.

The workshops are aimed at upgrading banking facilities to accept and issue international payment cards and establishing a pillar for economic growth, the credit-card company says.

Visa's first priority for Myanmar will be preparing for the influx of foreign visitors resulting from the relaxation of international sanctions. With Yangon's hotels and major tourist attractions now regularly full and the country's airports seeing increased passenger numbers, connection to the global economy is a key element in opening up the market.

The news comes as Myanmar gets set to host the anticipated rush of visitors expecting to use their
payment cards at next year's Southeast Asian Games and the regional World Economic Forum.

"We know from experience that there will be an urgent requirement to provide basic ATM networks and point-of-sale terminals for international visitors arriving in Myanmar for business and pleasure, and that is where we will focus first," said Peter Maher, Visa group country manager for Southeast Asia and Australasia.

During the two-day event, Visa introduced representatives to the international requirements for electronic payments and a road map for development and delivery.

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