I heard about CB BANK’s online card payment

Image Source: http://www.cbbankmobile.com/About.aspx

At the other day MYANMAR INTERNATIONAL ECOMMERCE EXPO 2017, I heard about talking about CB Bank online card payment.

In CB’s online card payment system, three kinds of cards, Visa, Master and MPU, can be used.
CB’s online card payment system is started in 2012, and now more than 100 companies are using the system.
CB’s MPU card holder has over 100,000 people.
MPU is Myanmar Payment Union, it is the settlement organization made by major banks in Myanmar.

The cost of using CB’s online card payment system is as follows.
(There may be listen mistakes, it is not accurate.
Also, it will change according to the time and it may be changed depending on the number of users etc, so I want you to make it a reference level)

The fixed cost of CB’s online card payment will cost $100 an initial charge, $25 per month.

Variable costs are different between MPU and Visa,Master.
In the case of MPU, 1% of settlement fee is usage fee.
On the other hand, for Master and Visa, 4% of settlement fee is usage fee.
I think if you are selling products with low profit margin, you know, It is a huge difference between being taken 1% of sales and taking 4% of sales.

Also, the number of days from when the user pays cards to payment is 3 days for MPU and 7 days for Master and Visa.
MPU has less usage fee and shorter time to deposit, so it is quite advantageous to use MPU for system users.

There is no doubt that online transactions will increase, and the number of users such as CB Bank online payment will increase.
Since card holders are getting more, if you want to incorporate online payment into your web service or EC site, please contact CB Bank etc.